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A Peek Into The Markets: US Stock Futures Jump; Alphabet Posts Downbeat Q4 Sales

Pre-open movers

Benzinga · 02/04/2020 11:37

Pre-open movers

U.S. stock futures traded higher in early pre-market trade. Ford Motor Company (NYSE: F) and The Walt Disney Company (NYSE: DIS) will release quarterly earnings after the closing bell. Data on factory orders for December will be released at 10:00 a.m. ET.

Futures for the Dow Jones Industrial Average climbed 321 points to 28,682 while the Standard & Poor’s 500 index futures traded rose 36.4 points to 3,282.00. Futures for the Nasdaq 100 index surged 115.25 points to 9,229.50.

Oil prices traded higher as Brent crude futures rose 0.8% to trade at $54.89 per barrel, while US WTI crude futures rose 1.5% to trade at $50.88 a barrel.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index rising 1.3%, STOXX Europe 600 Index gaining 1.1% and German DAX 30 index gaining 1.1%. The UK's FTSE index was trading higher by 1.3%, while French CAC 40 Index rose 1.2%.

In Asian markets, Japan’s Nikkei Stock Average rose 0.49%, Hong Kong’s Hang Seng Index rose 1.21%, China’s Shanghai Composite Index rose 1.34% and India’s BSE Sensex rose 2.3%.

Broker Recommendation

Analysts at Stephens & Co. downgraded Saia, Inc. (NASDAQ: SAIA) from Overweight to Equal-Weight.

Saia shares rose 8.6% to close at $94.57 on Monday.

Breaking News

  • Alphabet Inc (NASDAQ: GOOGL) reported better-than-expected earnings for its fourth quarter, while sales missed estimates.
  • L3Harris Technologies, Inc. (NYSE: LHX) reported upbeat earnings for its fourth quarter.
  • Zimmer Biomet Holdings, Inc. (NYSE: ZBH) reported better-than-expected results for its fourth quarter.
  • The Clorox Company (NYSE: CLX) reported stronger-than-expected Q4 results.