A Peek Into The Markets: US Stock Futures Edge Higher; General Mills Earnings Top Views

Pre-open movers

U.S. stock futures traded slightly higher in early pre-market trade. Chicago Fed President Charles Evans will speak at 12:40 p.m. ET.

Futures for the Dow Jones Industrial Average gained 14 points to 28,298 while the Standard & Poor’s 500 index futures traded rose 1.35 points to 3,196.75. Futures for the Nasdaq 100 index gained4.25 points to 8,609.50.

Oil prices traded lower as Brent crude futures fell 0.4% to trade at $65.82 per barrel, while US WTI crude futures fell 0.7% to trade at $60.49 a barrel. The Energy Information Administration’s weekly report on petroleum inventories in the U.S. is schedule for release at 10:30 a.m. ET.

A Peek Into Global Markets

European markets were mostly higher today, with the Spanish Ibex Index rising 0.15%, STOXX Europe 600 Index climbing 0.1% and German DAX 30 index dropping 0.3%. The UK's FTSE index was trading higher by 0.1%, while French CAC 40 Index rose 0.1%.

In Asian markets, Japan’s Nikkei Stock Average fell 0.55%, Hong Kong’s Hang Seng Index gained 0.15%, China’s Shanghai Composite Index fell 0.18% and India’s BSE Sensex rose 0.50%.

Broker Recommendation

Analysts at Oppenheimer downgraded FedEx Corporation (NYSE: FDX) from Outperform to Perform.

FedEx shares fell 7.8% to $150.50 in pre-market trading.

Breaking News

• General Mills, Inc. (NYSE: GIS) reported upbeat earnings for its second quarter.
• Medtronic (NYSE: MDT) reported the FDA clearance of Stealth Autoguide System for cranial procedures.
• FedEx Corporation (NYSE: FDX) reported weaker-than-expected Q2 results and issued soft FY20 guidance.
• Steelcase Inc. (NYSE: SCS) reported stronger-than-expected results for its third quarter.