Pre-open movers
U.S. stock futures traded slightly higher in early pre-market trade after the Dow Jones jumped around 140 points in the previous session following the release of jobs data. Investors are awaiting earnings results from SRAX, Inc. (NASDAQ:SRAX) and Atotech Limited (NASDAQ:ATC).
Data on factory orders for February will be released at 10:00 a.m. ET. Analysts expect factory orders dropping 0.6% in February.
Futures for the Dow Jones Industrial Average gained 9 points to 34,727.00 while the Standard & Poor's 500 index futures slipped 6.50 points to 4,545.75. Futures for the Nasdaq index rose 49.25 points to 14,913.00.
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Oil prices traded lower as Brent crude futures fell 0.9% to trade at $103.48 per barrel, while US WTI crude futures fell 0.5% to trade at $98.81 a barrel. The total number of active U.S. oil rigs rose by 2 to 533 rigs this week, Baker Hughes Inc reported Friday.
The U.S. has the highest number of COVID-19 cases and deaths in the world, with total infections in the country exceeding 81,832,610 with around 1,008,190 deaths. India reported a total of at least 43,029,040 confirmed cases, while Brazil confirmed over 29,999,810 cases.
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A Peek Into Global Markets
European markets were mixed today. The STOXX Europe 600 Index rose 0.1%, while Spain's IBEX 35 Index fell 0.5% and London's FTSE 100 gained 0.2%. The French CAC 40 Index fell 0.2%, while German DAX dropped 0.4%. The number of foreign tourist arrivals in Spain climbed 1007.8% year-over-year to 3.157 million in February, while number of people registered as unemployed in the country dropped by 2,921 from a month ago to 3.109 million in March. The German trade surplus shrank to €11.4 billion in February from €17.9 billion a year ago.
Asian markets traded higher today. Japan's Nikkei 225 rose 0.25% and Hong Kong's Hang Seng Index climbed 2.1%. Australia's S&P/ASX 200 rose 0.3%, while India's BSE SENSEX surged 2%. The S&P Global Indian manufacturing declined to 54.0 in March from 54.9 in the previous month. Retail sales in Australia rose by 1.8% from a month ago in February, while job advertisements rose by 0.4% to 245,891 in March.
Broker Recommendation
JP Morgan upgraded Zebra Technologies Corporation (NASDAQ:ZBRA) from Neutral to Overweight and lowered the price target from $530 to $500.
Zebra Technologies shares dropped 0.1% to $413.25 in pre-market trading.
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Breaking News
- Tesla Inc (NASDAQ:TSLA) CEO Elon Musk said that the electric vehicle maker is aiming at a 30% gross margin or about 10% profitability including all costs for its Supercharger network business.
- Nikola Corporation (NASDAQ:NKLA) filed for mixed shelf of upto $1.2 billion.
- Conformis, Inc. (NASDAQ:CFMS) named Michael Fillion as its Chief Operating Officer.
- Chinese online fast-fashion retailer SHEIN is mulling a $1 billion funding that could shoot its valuation past the owners of H&M, Uniqlo (OTC:FRCOY), and Zara.
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