U.S. stock futures traded higher in early pre-market trade. The housing starts report for July is schedule for release at 8:30 a.m. ET. The Census Bureau quarterly services report for the second quarter and the University of Michigan’s consumer sentiment index for August will be released at 10:00 a.m. ET.
Futures for the Dow Jones Industrial Average climbed 249 points to 25,824 while the Standard & Poor’s 500 index futures rose 28.2 points to 2,876.75. Futures for the Nasdaq 100 index climbed 96.75 points to 7,593.00.
Oil prices traded higher as Brent crude futures rose 1.8% to trade at $59.29 per barrel, while US WTI crude futures rose 1.8% to trade at $55.46 a barrel. The Baker Hughes North American rig count report for the latest week will be released at 1:00 p.m. ET.
A Peek Into Global Markets
European markets were higher today, with the Spanish Ibex Index rising 1.1%, STOXX Europe 600 Index gaining 1.1% and German DAX 30 index gaining 1.1%. The UK’s FTSE index was trading higher by 0.7%, while French CAC 40 Index rose 1%.
In Asian markets, Japan’s Nikkei Stock Average rose 0.06%, Hong Kong’s Hang Seng Index rose 0.94%, China’s Shanghai Composite Index climbed 0.29% and India’s BSE Sensex rose 0.10%.
Analysts at Credit Suisse downgraded Tapestry, Inc. (NYSE: TPR) from Outperform to Neutral and lowered the price target from $38 to $22.
Tapestry shares fell 1.3% to $19.20 in pre-market trading.
- Deere & Company (NYSE: DE) reported weaker-than-expected earnings for its third quarter.
- Qudian Inc – ADR (NASDAQ: QD) reported upbeat earnings for its second quarter.
- NVIDIA Corporation (NASDAQ: NVDA) reported stronger-than-expected results for its second quarter on Thursday.
- Applied Materials, Inc. (NASDAQ: AMAT) reported better-than-expected earnings for its third quarter.
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