U.S. stock futures traded mostly lower in early pre-market trade. South Korea confirmed 123 new coronavirus cases today, while Iran reported an additional 523 new cases. The manufacturing PMI for February is scheduled for release at 9:45 a.m. ET. The ISM manufacturing index for February and data on construction spending for January will be released at 10:00 a.m. ET.
Futures for the Dow Jones Industrial Average dipped 49 points to 25,315 while the Standard & Poor’s 500 index futures traded fell 13.9 points to 2,937.25. Futures for the Nasdaq 100 index declined 5.75 points to 8,448.25.
Oil prices traded higher as Brent crude futures rose 1.6% to trade at $50.46 per barrel, while US WTI crude futures rose 1.3% to trade at $45.32 a barrel. The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.
A Peek Into Global Markets
European markets were lower today, with the Spanish Ibex Index falling 0.9%, STOXX Europe 600 Index dropping 0.5% and German DAX 30 index declining 0.8%. The UK's FTSE index was trading lower by 0.1%, while French CAC 40 Index slipped 0.6%.
In Asian markets, Japan’s Nikkei Stock Average rose 0.95%, Hong Kong’s Hang Seng Index rose 0.62%, China’s Shanghai Composite Index climbed 3.15% and India’s BSE Sensex fell 0.40%.
Analysts at Oppenheimer upgraded Apple Inc. (NASDAQ: AAPL) from Perform to Outperform and announced a $320 price target.
Apple shares rose 0.8% to $275.50 in pre-market trading.
- DENTSPLY SIRONA Inc. (NASDAQ: XRAY) reported downbeat earnings for its fourth quarter, while sales exceeded views.
- Merck & Co., Inc. (NYSE: MRK) disclosed that its Phase 3 KEYNOTE-204 trial of KEYTRUDA met one of its primary endpoints.
- Acorn International, Inc. (NYSE: ATV) announced plans to suspend quarterly dividend due to concerns corona virus will materially impact business.
- WillScot Corporation (NASDAQ: WSC) and Mobile Mini, Inc. (NASDAQ: MINI) announced plans to merge.