A Peek Into The Markets: US Stock Futures Climb Ahead Of International Trade, Factory Orders Data

Pre-open movers

U.S. stock futures traded higher in early pre-market trade. The Challenger job-cut report for November is schedule for release at 7:30 a.m. ET. Data on international trade for October and initial jobless claims for the latest week will be released at 8:30 a.m. ET. Data on factory orders for November will be released at 10:00 a.m. ET. Federal Reserve Governor Randal Quarles is set to speak at 10:00 a.m. ET.

Futures for the Dow Jones Industrial Average climbed 118 points to 27,761 while the Standard & Poor’s 500 index futures traded rose 12.2 points to 3,123.25. Futures for the Nasdaq 100 index surged 40 points to 8,335.25.

Oil prices traded higher as Brent crude futures rose 0.6% to trade at $63.36 per barrel, while US WTI crude futures rose 0.1% to trade at $58.46 a barrel. The Energy Information Administration’s weekly report on natural gas stocks in underground storage is schedule for release at 10:30 a.m. ET.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index rising 0.5%, STOXX Europe 600 Index climbing 0.5% and German DAX 30 index gaining 0.2%. The UK's FTSE index was trading lower by 0.1%, while French CAC 40 Index rose 0.7%.

In Asian markets, Japan’s Nikkei Stock Average rose 0.71%, Hong Kong’s Hang Seng Index gained 0.59%, China’s Shanghai Composite Index rose 0.74% and India’s BSE Sensex fell 0.17%.

Broker Recommendation

Analysts at KeyBanc downgraded Whiting Petroleum Corp (NYSE: WLL) from Overweight to Sector Weight.

Whiting Petroleum shares rose 12.5% to close at $5.05 on Wednesday.

Breaking News

• GMS Inc (NYSE: GMS) reported upbeat results for its second quarter.
• Five Below Inc (NASDAQ: FIVE) reported in-line Q3 earnings, while sales exceeded estimates. The company also raised the low end of FY19 earnings guidance.
• Sportsman's Warehouse Holdings Inc (NASDAQ: SPWH) reported better-than-expected Q3 sales results. The company also issued FY19 EPS guidance above analyst estimates.
• Aurinia Pharmaceuticals Inc (NASDAQ: AUPH) shares jumped over 132% in pre-market trading after the company announced URORA Phase 3 trial results of Voclosporin in Lupus Nephritis met primary endpoints and showed statistical significance in all pre-specified hierarchical secondary endpoints.