A Sneak Peek at the Markets: U.S. Equity Futures Rise in Front of Unemployment Claims Data

Pre-opened movers

US equity futures traded higher at the start of pre-market trading after the Dow fell more than 300 points in the previous session. Investors await the results of Kellogg Company (NYSE: K) Cardinal Health Inc (NYSE: CAH), ViacomCBS Inc. (NASDAQ: VIAC) and Cigna Company (NYSE: CI).

The Challenger job cuts report for July is expected to be released at 7:30 a.m. ET, while data on the international trade report for June and the first jobless claims for the past week will be released at 8:30 a.m. ET. . Federal Reserve Governor Christopher Waller is expected to speak at 10:00 a.m.ET.

Dow Jones Industrial Average futures gained 79 points to 34,769.00 while Standard & Poor’s 500 index futures rose 11 points to 4,405.75. Futures contracts on the Nasdaq 100 index rose 28.25 points to 15,101.75.

The United States has the highest number of COVID-19 cases and deaths in the world, with the total number of infections in the country exceeding 35,330,870 with around 614,780 deaths. India has reported a total of at least 31,812,110 confirmed cases, while Brazil has confirmed more than 20,026,530 cases.

Oil prices traded lower, with Brent crude futures falling 0.2% to trade at $ 70.25 a barrel, while US WTI crude futures fell. fell 0.2% to trade at $ 68.02 a barrel. US crude oil inventories soared 3.626 million barrels in the past week, following a drop of 4.089 million in the previous period, the Energy Information Administration said on Wednesday. The Energy Information Administration’s weekly report on natural gas inventories in underground storage will be released at 10:30 a.m. ET.

An overview of global markets

European markets were mixed today. The Spanish Ibex index fell 0.1% and the STOXX Europe 600 index gained 0.4%. The French CAC 40 index rose 0.3%, the London FTSE 100 fell 0.1% while the German DAX 30 gained 0.1%. The Italian construction PMI index fell to 55.8 in July from 57.9 in June. France’s construction PMI slipped to 48.5 in July from 48.9 the month before, while industrial production rose 0.5% in June. The IHS Markit construction PMI for Germany rose to 47.1 in July from 47 a month ago, while factory orders rose 4.1% in June.

Asian markets traded mixed today. Japan’s Nikkei 225 index rose 0.52%, Hong Kong’s Hang Seng index fell 0.83%, while China’s Shanghai composite index fell 0.31%. The Australian S & P / ASX 200 rose 0.1% and the BSE Sensex Index rose 0.5%. Australia’s trade surplus widened to A $ 10.50 billion in June, as exports jumped 4% and imports increased 1%.

Broker recommendation

Decommissioned keybanc Inogen, Inc. (NASDAQ: INGN) from overweighting to sector weighting.

Inogen shares fell 6.6% to $ 76.85 in pre-market trading.

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