BB Stock – A Peek Into The Markets: US Stock Futures Mixed Ahead Of Earnings, House price Data
U.S. stock futures traded mixed in early pre-market trade as the Wall Street closed mixed in the previous session with the Dow Jones adding around 100 points. Investors are awaiting earnings results from McCormick & Company, Incorporated (NYSE: MKC), FactSet Research Systems Inc. (NYSE: FDS), PVH Corp (NYSE: PVH) and BlackBerry Limited (NYSE: BB)
The S&P Corelogic Case-Shiller home price index and the FHFA house price index for January will be released at 9:00 a.m. ET. The Conference Board’s consumer confidence index for March is scheduled for release at 10:00 a.m. ET. Federal Reserve Governor Randal Quarles is set to speak at 9:00 a.m. ET, while Federal Reserve Bank of Atlanta President Raphael Bostic will speak at 12:00 p.m. ET. Federal Reserve Bank of New York President John Williams is set to speak at 2:00 p.m. ET.
Futures for the Dow Jones Industrial Average gained 56 points to 33,088.00 while the Standard & Poor’s 500 index futures fell 2.50 points at 3,956.50. Futures for the Nasdaq 100 index fell 68.50 points to 12,876.00.
The U.S. has the highest number of COVID-19 cases and deaths in the world, with total infections in the country exceeding 30,331,790 with around 550,030 deaths. Brazil confirmed over 12,573,610 cases, while India reported a total of at least 12,095,850 confirmed cases.
Oil prices traded lower as Brent crude futures fell 0.1% to trade at $64.87 per barrel, while US WTI crude futures fell 0.2% to trade at $61.42 a barrel. The API’s report on crude inventories will be released later during the day.
A Peek Into Global Markets
European markets were higher today. The Spanish Ibex Index rose 0.8% and STOXX Europe 600 Index gained 0.5%. The French CAC 40 Index rose 0.8%, German DAX 30 gained 0.6% while London’s FTSE 100 rose 0.7%. Import prices in Germany rose 1.4% year-over-year in February following a 1.2% drop in January. Retail sales in Spain dropped 5.9% year-over-year in February. French consumer confidence index rose to 94 in March from 91 in February.
Asian markets traded mostly higher today. Japan’s Nikkei 225 rose 0.16%, China’s Shanghai Composite gained 0.62% and Hong Kong’s Hang Seng Index rose 0.84%. Australia’s S&P/ASX 200 fell 0.9%, while India’s BSE Sensex rose 2.1%. Retail sales in Japan fell 1.5% year-over-year in February following a 2.4% decline a month earlier, while unemployment rate stood at 2.9% for February.
Credit Suisse initiated coverage on Molina Healthcare, Inc. (NYSE: MOH) with an Outperform rating and announced a price target of $260.
Molina Healthcare shares fell 0.4% to close at $233.28 on Monday.
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- Nio Inc (NYSE: NIO) has agreed to partner with German retail giant Metro AG to construct electric vehicle charging stations and battery swap stations, cnEVpost reported.
- Biocept Inc (NASDAQ: BIOC) reported Q4 net income of $1.9 million, or $0.14 per share, versus a year-ago net loss of $5.7 million, or $1.97 per share. Its revenue surged to $18.5 million from $1.8 million.
- A lawsuit against Nokia Oyj (NYSE: NOK) alleging that the telecom company defrauded shareholders was dismissed in New York on Monday, Reuters reported.
- Trxade Group Inc (NASDAQ: MEDS) posted a net loss of $0.29 per share in the fourth quarter versus a year-ago net loss of $0.04 per shares. Its revenue climbed 17.1% to $2 million.
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