Pre-open movers
U.S. stock futures traded higher in early pre-market trade after the Dow Jones tumbled more than 500 points in the previous session.
The Chicago Fed National Activity Index for May will be released at 8:30 a.m. ET. The index is expected to rise to 0.50 for May from 0.24 in April.
Futures for the Dow Jones Industrial Average jumped 212 points to 33,367.00 while the Standard & Poor’s 500 index futures gained 22.25 points at 4,175.75. Futures for the Nasdaq 100 index rose 81.75 points to 14,116.75.
The U.S. has the highest number of COVID-19 cases and deaths in the world, with total infections in the country exceeding 33,541,880 with around 601,820 deaths. India reported a total of at least 29,881,770 confirmed cases, while Brazil confirmed over 17,927,920 cases.
Oil pricestraded higher as Brent crude futures rose 0.5% to trade at $73.87 per barrel, while US WTI crude futures rose 0.6% to trade at $72.06 a barrel. The total number of active U.S. oil rigs climbed by 8 to 373 rigs this week, Baker Hughes Inc reported Friday.
A Peek Into Global Markets
European markets were higher today. The Spanish Ibex Index rose 0.1% and STOXX Europe 600 Index gained 0.3%. The French CAC 40 Index rose 0.1%, London’s FTSE 100 rose 0.2% while German DAX 30 gained 0.4%.
Asian markets traded mostly lower today. Japan’s Nikkei 225 dropped 3.29%, while Hong Kong’s Hang Seng Index fell 1.08% and China’s Shanghai Composite Index gained 0.12%. Australia’s S&P/ASX 200 fell 1.8% and India’s BSE Sensex rose 0.4%. Retail sales in Australia increased 0.1% in following a 1.1% growth a month ago. The People's Bank of China held its benchmark interest rates steady for the 14th consecutive month.
Broker Recommendation
Compass Point initiated coverage on Riot Blockchain, Inc.RIOTwith a Buy rating and announced a price target of $43.
Riot Blockchain shares fell 6.2% to $30.20 in pre-market trading.
Breaking News
- CNH Industrial N.V.CNHI 0.03%announced plans to acquireRaven Industries, Inc.RAVNfor $58 per share in cash.
- Deutsche BankDBandFiserv, Inc.FISVannounced a joint venture for payment acceptance in Germany.
- Pfizer IncPFE 0.08%COVID-19 vaccine received provisional approval for use in the age group 12 to 15 from New Zealand's medical regulator, Stuff reported.
- Beigene LtdBGNEdisclosed that BRUKINSA received an approval from the China National Medical Products Administration for the treatment of adult patients with relapsed or refractory Waldenström’s macroglobulinemia.