U.S. stock futures traded higher in early pre-market trade, ahead of earnings from United Technologies Corporation (NYSE: UTX), 3M Company (NYSE: MMM), Pfizer Inc. (NYSE: PFE) and Lockheed Martin Corporation (NYSE: LMT). Apple Inc. (NASDAQ: AAPL) and Starbucks Corporation (NASDAQ: SBUX) will release earnings after the closing bell. The Federal Open Market Committee will begin its two-day policy meeting today. Data on durable goods orders for December will be released at 8:30 a.m. ET, while the S&P Corelogic Case-Shiller home price index for November will be released at 9:00 a.m. ET. The Conference Board consumer confidence index for January and the Richmond Fed manufacturing index for January will be released at 10:00 a.m. ET.
Futures for the Dow Jones Industrial Average gained 63 points to 28,544 while the Standard & Poor’s 500 index futures traded rose 7.65 points to 3,247.25. Futures for the Nasdaq 100 index climbed 37.5 points to 8,992.00.
Oil prices traded lower as Brent crude futures fell 0.9% to trade at $58.08 per barrel, while US WTI crude futures fell 0.6% to trade at $52.84 a barrel.
A Peek Into Global Markets
European markets were mixed today, with the Spanish Ibex Index rising 0.3%, STOXX Europe 600 Index gaining 0.1% and German DAX 30 index dropping 0.2%. The UK's FTSE index was trading higher by 0.2%, while French CAC 40 Index rose 0.1%.
In Asian markets, Japan’s Nikkei Stock Average fell 0.55%, Hong Kong’s Hang Seng Index rose 0.15%, China’s Shanghai Composite Index fell 2.75% and India’s BSE Sensex fell 0.46%.
Analysts at Imperial Capital downgraded Vivint Smart Home, Inc. (NYSE: VVNT) from Outperform to In-Line and announced a $12.5 price target.
Vivint Smart Home shares fell 0.1% to close at $11.71 on Monday.
- Polaris Inc (NYSE: PII) reported better-than-expected earnings for its fourth quarter, while sales missed views.
- Lear Corporation (NYSE: LEA) reported stronger-than-expected earnings for its fourth quarter.
- Brown & Brown, Inc. (NYSE: BRO) reported stronger-than-expected results for its fourth quarter.
- Acceleron Pharma Inc (NASDAQ: XLRN) shares surged around 65% in pre-market trading after the company announced Sotatercept achieved primary and secondary endpoints in PULSAR Phase 2 trial.