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A Peek Into The Markets: U.S. Stock Futures Flat Ahead Of Economic Data

HP, FDS, TSLA | April 3, 2017

Pre-open movers

U.S. stock futures traded mostly flat in early pre-market trade. The manufacturing PMI for Match is schedule for release at 9:45 a.m. ET. The ISM manufacturing composite index for March will be released at 10:00 a.m. ET, while data on construction spending for February will be released at 10:00 a.m. ET. New York Federal Reserve Bank President William Dudley is set to speak in New York at 10:30 a.m. ET, while Richmond Federal Reserve Bank President Jeffrey Lacker will speak in Lexington, Virginia at 5:00 p.m. ET.

Futures for the Dow Jones Industrial Average gained 7 points to 20,611.00, while the Standard & Poor’s 500 index futures fell 0.50 points to 2,358.75. Futures for the Nasdaq 100 index gained 2.75 points to 5,441.25.

Oil prices traded higher as Brent crude futures rose 0.06 percent to trade at $53.56 per barrel, while US WTI crude futures rose 0.18 percent to trade at $50.69 a barrel.

A Peek Into Global Markets

European markets were mostly lower today, with the Spanish Ibex Index falling 0.60 percent, STOXX Europe 600 Index gaining 0.11 percent and German DAX 30 index gaining 0.19 percent. The UK's FTSE index was trading higher by 0.04 percent, while French CAC 40 Index slipped 0.28 percent.

In Asian markets, Japan’s Nikkei Stock Average rose 0.39 percent, Hong Kong’s Hang Seng Index climbed 0.62 percent, China’s Shanghai Composite Index rose 0.38 percent and India’s BSE Sensex rose 0.98 percent.

Broker Recommendation

Analysts at Guggenheim upgraded Helmerich & Payne, Inc. (NYSE: HP) from Neutral to Buy.

Helmerich & Payne shares rose 0.06 percent to close at $66.57 on Friday.

Breaking news

Tesla Inc (NASDAQ: TSLA) delivered over 25,000 vehicles in Q1, of which about 13,450 were Model S and about 11,550 were Model X. This was a new quarterly record and represents a 69 percent increase over Q1 2016. Q1 production totaled 25,418 vehicles, also a new quarterly record.
Cowen Group Inc. (NYSE: COWN) agreed to buy Convergex Group LLC for about $116 million.
FactSet Research Systems Inc. (NYSE: FDS) lifted its earnings forecast for the fiscal third quarter.
Hewlett Packard Enterprise Co (NYSE: HPE) reported closing of spin-off and merger of its Enterprise Services unit with Computer Sciences Corporation (NYSE: CSC).