A Peek Into The Markets: US Stock Futures Up Ahead Of American Express Earnings

Pre-open movers

U.S. stock futures traded higher in early pre-market trade, ahead of earnings from American Express Company AXP. The flash Composite Purchasing Managers' Index for January is schedule for release at 9:45 a.m. ET.

Futures for the Dow Jones Industrial Average climbed 70 points to 29,197 while the Standard & Poor’s 500 index futures rose 7.75 points to 3,333.75. Futures for the Nasdaq 100 index gained 30.75 points to 9,279.

Oil prices traded lower as Brent crude futures fell 0.5% to trade at $61.76 per barrel, while US WTI crude futures fell 0.4% to trade at $55.36 a barrel. The Baker Hughes North American rig count report for the latest week will be released at 1:00 p.m. ET.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index rising 0.9%, STOXX Europe 600 Index climbing 1.1% and German DAX 30 index gaining 1.2%. The UK's FTSE index was trading higher by 1.6%, while French CAC 40 Index rose 1.1%.

In Asian markets, Japan’s Nikkei Stock Average rose 0.13%, Hong Kong’s Hang Seng Index gained 0.15%, China’s Shanghai Composite Index declined 2.75% and India’s BSE Sensex rose 0.55%.

Broker Recommendation

Analysts at Charter Equity upgraded Skyworks Solutions Inc SWKS from Market Perform to Buy.

Skyworks shares fell 2.8 percent to $124.60 in pre-market trading.

Breaking News

• Air Products & Chemicals, Inc. APD reported upbeat earnings for its fourth quarter, while sales missed views.The company also issued weak earnings forecast for the second quarter.
• Synchrony Financial SYF reported better-than-expected earnings for its fourth quarter.
• Intel Corporation INTC reported better-than-expected results for its fourth quarter and issued strong Q1 guidance.
• E*TRADE Financial Corp ETFC reported downbeat earnings for its fourth quarter, while sales exceeded views.