Pre-open movers
U.S. stock futures traded higher in early pre-market trade. Data on nonfarm payrolls and unemployment rate for May and
international trade for April will be released at 8:30 a.m. ET. Philadelphia Federal Reserve Bank President Patrick Harker is set
to speak in Reading, Pennsylvania at 12:45 p.m. ET, while Dallas Federal Reserve Bank President Robert Kaplan will speak in Dallas
at 1:00 p.m. ET.
Futures for the Dow Jones Industrial Average climbed 88 points to 21,220.00, while the Standard & Poor’s 500 index futures rose
7 points to 2,436.50. Futures for the Nasdaq 100 index surged 20.50 points to 5,842.50.
Oil prices traded lower as Brent crude futures fell 2.37 percent to trade at $49.43 per barrel, while US WTI crude futures fell
2.32 percent to trade at $47.24 a barrel. The Baker Hughes North American rig count report for the latest week is schedule for
release at 1:00 p.m. ET.
A Peek Into Global Markets
European markets were higher today, with the Spanish Ibex Index gaining 1.07 percent, STOXX Europe 600 Index rising 0.71 percent
and German DAX 30 index gaining 1.57 percent. The UK's FTSE index was trading higher by 0.40 percent, while French CAC 40 Index
rose 0.95 percent.
In Asian markets, Japan’s Nikkei Stock Average rose 1.60 percent, Hong Kong’s Hang Seng Index gained 0.44 percent, China’s
Shanghai Composite Index rose 0.09 percent and India’s BSE Sensex rose 0.44 percent.
Broker Recommendation
Analysts at JP Morgan upgraded Deere & Company (NYSE: DE) from Underweight to Neutral and raised the price target from $103.00 to
$122.00.
Deere shares rose 1.44 percent to $126.49 in pre-market trading.
Breaking news
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Lululemon Athletica inc. (NASDAQ: LULU) reported
stronger-than-expected results for its first quarter and raised its FY 2017 earnings outlook. The company also announced it
plans to restructure its girls activewear brand, ivivva, toward a primarily e-commerce focused business. The company announced
it will close 40 of its 55 ivivva branded stores and convert half the remaining stores to Lululemon branded stores.
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Descartes Systems Group Inc (USA) (NASDAQ: DSGX)
reported the purchase of PCSTrac business for $11.25 million in cash.
-
RH (NYSE: RH) reported in-line earnings for its first
quarter, but lowered its earnings forecast for the year.
-
Broadcom Ltd (NASDAQ: AVGO) posted
better-than-expected results for its second quarter on Thursday.
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