A Peek Into The Markets: US Stock Futures Mixed Ahead Of Morgan Stanley Earnings

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Pre-open movers

U.S. stock futures traded mixed in early pre-market trade after the Dow Jones jumped more than 300 points in the previous session. Investors are awaiting earnings results from Morgan Stanley (NYSE: MS), PNC Financial Services Group Inc (NYSE: PNC) and Bank of New York Mellon Corp (NYSE: BK).

Data on housing starts and permits for March will be released at 8:30 a.m. ET, while the University of Michigan’s consumer sentiment index for April is scheduled for release at 10:00 a.m. ET. Federal Reserve Bank of Dallas President Robert Kaplan is set to speak today.

Futures for the Dow Jones Industrial Average gained 58 points to 33,981.00 while the Standard & Poor’s 500 index futures rose 3.75 points at 4,166.25. Futures for the Nasdaq 100 index fell 19.50 points to 13,994.50.

The U.S. has the highest number of COVID-19 cases and deaths in the world, with total infections in the country exceeding 31,495,920 with around 565,280 deaths. India reported a total of at least 14,291,910 confirmed cases, while Brazil confirmed over 13,746,680 cases.

Oil prices traded higher as Brent crude futures rose 0.4% to trade at $67.21 per barrel, while US WTI crude futures rose 0.3% to trade at $63.67 a barrel. The Baker Hughes North American rig count report for the latest week will be released at 1:00 p.m. ET.

A Peek Into Global Markets

European markets were higher today . The Spanish Ibex Index rose 0.9% and STOXX Europe 600 Index gained 0.6%. The French CAC 40 Index rose 0.6%, German DAX 30 gained 1% while London’s FTSE 100 rose 0.7%. The consumer price inflation rate in the Eurozone was confirmed at 1.3% year-over-year in March, while trade surplus shrank to EUR 17.7 billion in February from EUR 23.4 billion in the year-ago month. Italy’s trade surplus narrowed to EUR 4.75 billion for February from EUR 5.98 billion.

Asian markets traded higher today. Japan’s Nikkei 225 rose 0.14%, China’s Shanghai Composite rose 0.81% and Hong Kong’s Hang Seng Index rose 0.61%. Australia’s S&P/ASX 200 rose 0.1%, while India’s BSE Sensex rose 0.1%. China’s retail trade jumped 34.2% year-over-year in March, while industrial production rose 14.1% year-over-year in March. The Chinese economy expanded 18.3% year-over-year in the March quarter.

Broker Recommendation

Piper Sandler upgraded Sunrun Inc. (NASDAQ: RUN) from Neutral to Overweight and announced a $77 price target..

Sunrun shares rose 2.2% to $48.22 in pre-market trading.

Check out other major ratings here

Breaking News

  • PPG Industries, Inc. (NYSE: PPG) reported better-than-expected results for its first quarter and issued strong earnings forecast for the second quarter.
  • Maxeon Solar Technologies, Ltd. (NYSE: MAXN) priced its $125 million public offering of ordinary shares at $18 per share..
  • Alcoa Corp (NYSE: AA) reported stronger-than-expected results for its first quarter.
  • Amazon.com Inc (NASDAQ: AMZN)- and Ford Motor Co (NYSE: F)-backed electric vehicle startup Rivian on Thursday announced its own in-house insurance program for customers as it speeds closer to the launch of its first electric SUV and a pickup truck this summer..

Check out other breaking news here

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