Pre-open movers
U.S. stock futures traded mixed in early pre-market trade after the Dow Jones dropped around 40 points in the previous session. Investors are awaiting earnings results from Johnson & Johnson (NYSE:JNJ), Netflix, Inc. (NASDAQ:NFLX), Lockheed Martin Corporation (NYSE:LMT) and International Business Machines Corporation (NYSE:IBM).
Data on housing starts and permits for March will be released at 8:30 a.m. ET. Federal Reserve Bank of Chicago President Charles Evans is set to speak at 12:05 p.m. ET, while Federal Reserve Bank of Minneapolis President Neel Kashkari will speak at 8:00 p.m. ET.
Check out this: 4 Stocks Under $5 Insiders Are Aggressively Buying
Futures for the Dow Jones Industrial Average gained 24 points to 34,337.00 while the Standard & Poor’s 500 index futures fell 1.25 points to 4,385.50. Futures for the Nasdaq index fell 31 points to 13,876.75.
Check out our premarket coverage here .
Oil prices traded lower as Brent crude futures fell 0.8% to trade at $112.29 per barrel, while US WTI crude futures fell 1% to trade at $107.16 a barrel.
The U.S. has the highest number of COVID-19 cases and deaths in the world, with total infections in the country exceeding 82,377,150 with around 1,015,790 deaths. India reported a total of at least 43,045,520 confirmed cases, while Brazil confirmed over 30,261,080 cases.
Check out this: Twitter And 4 Other Stocks Insiders Are Selling
A Peek Into Global Markets
European markets were lower today. The STOXX Europe 600 Index fell 1.1%, while Spain’s IBEX 35 Index fell 0.6% and London’s FTSE 100 fell 0.3%. The French CAC 40 Index fell 0.9%, while German DAX dropped 0.9%.
Asian markets traded mixed today. Japan’s Nikkei 225 rose 0.69%, Hong Kong’s Hang Seng Index fell 2.28% and China’s Shanghai Composite fell 0.05%. Australia’s S&P/ASX 200 gained 0.6%, while India’s BSE SENSEX rose 0.4%. Industrial production in Japan increased by 2.0% month-over-month in February following a revised 2.4% drop in the previous month.
Broker Recommendation
Benchmark initiated coverage on Patterson-UTI Energy, Inc. (NASDAQ:PTEN) with a Buy rating and announced a price target of $21.
Patterson-UTI Energy shares fell 3% to $17.44 in pre-market trading.
Check out this: Executives Buy More Than $32M Of 4 Stocks
Breaking News
- J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT) reported better-than-expected results for its first quarter on Monday.
- Australia-headquartered graphite miner Syrah Resources (OTC:SYAAF) has bagged $107 million in loans from the U.S. Department of Energy to expand its electric vehicle battery parts plant in Louisiana.
- NETGEAR, Inc. (NASDAQ:NTGR) reported preliminary results for its first quarter. The company lowered its revenue guidance and now expects net revenue to be between $202 million and $212 million, compared to previous guidance of $225 million to $240 million.
- Tesla Inc (NASDAQ:TSLA) is facing an “open investigation” by a U.S. federal agency, Bloomberg News reported on Monday, citing the EV maker’s state court filing in Oakland.
