A Peek Into The Markets: U.S. Stock Futures Climb Ahead Of Wells Fargo Earnings
|Pre-open movers
U.S. stock futures traded higher in early pre-market trade, ahead of earnings from Wells Fargo & Co WFC 0.74%. Data on retail sales for December and the Consumer Price Index for December will be released at 8:30 a.m. ET. Data on business inventories for November will be released at 10:00 a.m. ET. Philadelphia Federal Reserve Bank President Patrick Harker is set to speak in Ivyland, Pennsylvania at 12:30 p.m. ET, while Boston Federal Reserve Bank President Eric Rosengren will speak in La Jolla, California at 4:15 p.m. ET.
Futures for the Dow Jones Industrial Average climbed 102 points to 25,657, while the Standard & Poor’s 500 index futures rose 6.25 points to 2,775.75. Futures for the Nasdaq 100 index gained 6.75 points to 6,733.25.
Oil prices traded lower as Brent crude futures fell 0.19 percent to trade at $69.13 per barrel, while US WTI crude futures dropped 0.58 percent to trade at $63.43 a barrel. The Baker Hughes North American rig count report for the latest week is schedule for release at 1:00 p.m. ET.
A Peek Into Global Markets
European markets were higher today, with the Spanish Ibex Index gaining 0.23 percent, STOXX Europe 600 Index climbing 0.17 percent and German DAX 30 index gaining 0.17 percent. The UK's FTSE index was trading higher by 0.20 percent, while French CAC 40 Index rose 0.30 percent.
In Asian markets, Japan’s Nikkei Stock Average fell 0.24 percent, Hong Kong’s Hang Seng Index climbed 0.94 percent, China’s Shanghai Composite Index rose 0.10 percent and India’s BSE Sensex gained 0.26 percent.
Broker Recommendation
Analysts at Morgan Stanley upgraded Expedia Inc EXPE 0.39% from Equal-Weight to Overweight.
Expedia shares fell 2.01 percent to close at $71.29 on Tuesday.
Breaking news
- JPMorgan Chase & Co. JPM 0.73% reported better-than-expected earnings for its fourth quarter.
- Infosys Ltd. INFY 2.92% reported a 38 percent gain in its profit rose 38% in the three months ended Dec. 31.
- PNC Financial Services Group Inc. PNC 0.22% reported upbeat earnings for its fourth quarter.
- BlackRock, Inc. BLK 2.56% reported stronger-than-expected profit for its fourth quarter.
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