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A Peek Into The Markets: US Stock Futures Gain Ahead Of Manufacturing Data

Pre-open movers

Benzinga · 02/03/2020 11:48

Pre-open movers

U.S. stock futures traded higher in early pre-market trade. Alphabet Inc. (NASDAQ: GOOGL) is expected to release quarterly earnings after the closing bell. The manufacturing PMI for January is scheduled for release at 9:45 a.m. ET. Data on construction spending for December and the ISM manufacturing index for January will be released at 10:00 a.m. ET. Federal Reserve Bank of Atlanta President Raphael Bostic is set to speak at 4:30 p.m. ET.

Futures for the Dow Jones Industrial Average climbed 106 points to 28,302 while the Standard & Poor’s 500 index futures traded rose 14 points to 3,238.00. Futures for the Nasdaq 100 index surged 46 points to 9,043.75.

Oil prices traded mostly higher as Brent crude futures fell 0.1% to trade at $56.60 per barrel, while US WTI crude futures rose 0.6% to trade at $51.86 a barrel.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index rising 0.1%, STOXX Europe 600 Index gaining 0.1% and German DAX 30 index gaining 0.2%. The UK's FTSE index was trading higher by 0.4%, while French CAC 40 Index rose 0.3%.

In Asian markets, Japan’s Nikkei Stock Average fell 1.01%, Hong Kong’s Hang Seng Index rose 0.17%, China’s Shanghai Composite Index fell 7.72% and India’s BSE Sensex rose 0.34%.

Broker Recommendation

Analysts at Goldman Sachs downgraded Northrop Grumman Corporation (NYSE: NOC) from Buy to Sell and announced a $337 price target.

Northrop Grumman shares fell 1.7% to $368.05 in pre-market trading.

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