U.S. stock futures traded higher in early pre-market trade, ahead of earnings from American Express Company (NYSE: AXP). The flash Composite Purchasing Managers' Index for January is schedule for release at 9:45 a.m. ET.
Futures for the Dow Jones Industrial Average climbed 70 points to 29,197 while the Standard & Poor’s 500 index futures rose 7.75 points to 3,333.75. Futures for the Nasdaq 100 index gained 30.75 points to 9,279.
Oil prices traded lower as Brent crude futures fell 0.5% to trade at $61.76 per barrel, while US WTI crude futures fell 0.4% to trade at $55.36 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 0.9%, STOXX Europe 600 Index climbing 1.1% and German DAX 30 index gaining 1.2%. The UK's FTSE index was trading higher by 1.6%, while French CAC 40 Index rose 1.1%.
In Asian markets, Japan’s Nikkei Stock Average rose 0.13%, Hong Kong’s Hang Seng Index gained 0.15%, China’s Shanghai Composite Index declined 2.75% and India’s BSE Sensex rose 0.55%.
Analysts at Charter Equity upgraded Skyworks Solutions Inc (NASDAQ: SWKS) from Market Perform to Buy.
Skyworks shares fell 2.8 percent to $124.60 in pre-market trading.
- Air Products & Chemicals, Inc. (NYSE: APD) reported upbeat earnings for its fourth quarter, while sales missed views.The company also issued weak earnings forecast for the second quarter.
- Synchrony Financial (NYSE: SYF) reported better-than-expected earnings for its fourth quarter.
- Intel Corporation (NASDAQ: INTC) reported better-than-expected results for its fourth quarter and issued strong Q1 guidance.
- E*TRADE Financial Corp (NASDAQ: ETFC) reported downbeat earnings for its fourth quarter, while sales exceeded views.