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A Peek Into The Markets: U.S. Stock Futures Edge Higher Ahead Of Economic Data

A Peek Into The Markets: U.S. Stock Futures Edge Higher Ahead Of Economic Data - General Motors Company NYSE:GM, Coach, Inc. NYSE:COH

Pre-open movers

U.S. stock futures traded higher in early pre-market trade. Data on nonfarm productivity and unit labor costs for the second quarter will be released at 8:30 a.m. ET, while wholesale inventories report for June will be released at 10:00 a.m. ET.

Futures for the Dow Jones Industrial Average climbed 19 points to 18,480.00, while the Standard & Poor’s 500 index futures gained 2 points to 2,177.25. Futures for the Nasdaq 100 index rose 6 points to 4,785.25.

Oil prices traded higher as Brent crude futures gained 0.37 percent to trade at $45.56 per barrel, while US WTI crude futures also rose 0.51 percent to trade at $43.24 a barrel.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index surging 0.32 percent, STOXX Europe 600 Index rising 0.33 percent and German DAX 30 index gaining 0.78 percent. The UK's FTSE index was trading higher by 0.30 percent, while French CAC 40 Index climbed 0.62 percent. The U.K.'s trade deficit increased to GBP12.4 billion ($16.2 billion) in July, compared to GBP11.5 billion in June.

In Asian markets, Japan’s Nikkei Stock Average rose 0.69 percent, Hong Kong’s Hang Seng Index declined 0.13 percent, China’s Shanghai Composite Index rose 0.71 percent and India’s BSE Sensex fell 0.35 percent.

Broker Recommendation

Analysts at Jefferies initiated coverage on General Motors Company GM with a Hold rating and a $33.00 price target.

General Motors shares rose 0.29 percent to close at $30.88 on Monday.

Breaking news

  • Coach Inc COH announced results for the fourth quarter ensuring the string of pleasant earnings surprise continued. In the preceding four quarters too, its earnings topped the Street estimates. However, its revenue fell shy of the estimates. To read the full news, click here.
  • Charter Communications, Inc. CHTR released its Q2 results before the open on Tuesday. Earnings per share came in above year-over-year metrics. To read the full news, click here.
  • Miller Coors continues to add new craft breweries to its portfolio with two new purchases. The joint venture between Molson Coors Brewing Company TAP and SABMiller plc (ADR) SBMRY purchased craft brands Terrapin Beer and Hop Valley Brewing recently. Coors' craft beer division, Tenth and Blake, will manage the new acquisitions. To read the full news, click here.
  • LendingClub Corp LC reported a wider-than-expected loss for its second quarter. The company also announced CFO Carrie Dolan will step down and Bradley Coleman will be interim CFO. To read the full news, click here.

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