A Peek Into The Markets: US Stock Futures Signal Higher Start On Wall Street

Pre-open movers

U.S. stock futures traded highr in early pre-market trade. Data on motor vehicle sales for October will be released today. Data on September factory orders will be released at 10:00 a.m. ET. San Francisco Federal Reserve Bank President Mary Daly is set to speak in New York at 3:05 p.m. ET.

Futures for the Dow Jones Industrial Average gained 121 points to 27,380 while the Standard & Poor’s 500 index futures rose 14.3 points to 3,077.50. Futures for the Nasdaq 100 index gained 45.25 points to 8,205.50.

Oil prices traded higher as Brent crude futures rose 1.4% to trade at $62.53 per barrel, while US WTI crude futures rose 1.3% to trade at $56.91 a barrel.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index rising 0.8%, STOXX Europe 600 Index rising 0.9% and German DAX 30 index gaining 1.2%. The UK's FTSE index was trading higher by 1%, while French CAC 40 Index fell 2%.

In Asian markets, Japan’s Nikkei Stock Average fell 0.33%, Hong Kong’s Hang Seng Index rose 1.65%, China’s Shanghai Composite Index gained 0.58% and India’s BSE Sensex rose 0.34%.

Broker Recommendation

Analysts at Nomura downgraded Verizon Communications Inc. (NYSE: VZ) from Buy to Neutral and lowered the price target from $67 to $65.

Verizon shares fell 0.5 percent to $60.08 in pre-market trading.

Breaking News

• Bausch Health Companies Inc. (NYSE: BHC) reported better-than-expected earnings for its third quarter and raised its FY19 sales forecast.
• Compugen Ltd. (NASDAQ: CGEN) reported the FDA clearance of its investigational new drug application for COM902.
• RedHill Biopharma Ltd. (NASDAQ: RDHL) shares jumped around 35% in pre-market trading after the company announced FDA approval of its Talicia for treatment of H Pylori in adults..
• Wright Medical Group N.V. (NASDAQ: WMGI) agreed to be acquired by Stryker Corporation (NYSE: SYK) for $30.75 per share in cash.