U.S. stock futures traded higher in early pre-market trade. Data on retail sales for February will be released at 8:30 a.m. ET, while data on industrial production for February will be released at 9:15 a.m. ET. The housing market index for March, the Labor Department's JOLTS report and data on business inventories for January will be released at 10:00 a.m. ET.
South Korea confirmed a total of over 8,300 coronavirus cases, while Italy reported a total of at least 27,000 confirmed cases and 2,000 deaths. Total cases in the US exceeded 4,500 with around 90 deaths. Mainland China reported 21 additional confirmed cases.
Futures for the Dow Jones Industrial Average climbed 298 points to 20,559 while the Standard & Poor’s 500 index futures traded rose 32.7 points to 2,438.00. Futures for the Nasdaq 100 index climbed 169 points to 7,209.25.
Oil prices traded mostly higher as Brent crude futures fell 0.3% to trade at $29.97 per barrel, while US WTI crude futures rose 1.6% to trade at $29.17 a barrel.
A Peek Into Global Markets
European markets were mixed today, with the Spanish Ibex Index rising 2.8%, STOXX Europe 600 Index declining 0.4% and German DAX 30 index dropping 0.2%. The UK's FTSE index was trading lower by 1.2%, while French CAC 40 Index rose 0.3%.
In Asian markets, Japan’s Nikkei Stock Average rose 0.06%, Hong Kong’s Hang Seng Index gained 0.87%, China’s Shanghai Composite Index fell 0.34% and India’s BSE Sensex fell 2.58%.
Analysts at MKM Partners upgraded Electronic Arts Inc. (NASDAQ: EA) from Neutral to Buy.
Electronic Arts shares fell 8.6% to close at $88.67 on Monday.
- HD Supply Holdings, Inc. (NASDAQ: HDS) reported better-than-expected results for its fourth quarter, but did not provide Q1 or FY20 guidance.
- Antitrust authorities in France have fined Apple Inc. (NASDAQ: AAPL) $1.2 billion after finding the iPhone maker abused its economic position to prevent Premium resellers from selling at lower prices.
- Coupa Software (NASDAQ: COUP) reported better-than-expected Q4 sales and issued strong sales forecast for Q1 and FY21.
- Healthequity Inc (NASDAQ: HQY) reported upbeat results for its fourth quarter, but issued weak sales forecast for FY21.