U.S. stock futures traded higher in early pre-market trade after the Dow Jones surged more than 200 points in the previous session. Investors are awaiting earnings results from Qudian Inc. (NYSE:QD), J.Jill, Inc. (NYSE:JILL) and Zedge, Inc. (NYSE:ZDGE).
Futures for the Dow Jones Industrial Average gained 82 points to 36,049.00 while the Standard & Poor’s 500 index futures rose 14.25 points to 4,725.25. Futures for the Nasdaq 100 index rose 59.25 points to 16,389.00.
The U.S. has the highest number of COVID-19 cases and deaths in the world, with total infections in the country exceeding 50,801,450 with around 817,950 deaths. India reported a total of at least 34,697,860 confirmed cases, while Brazil confirmed over 22,189,860 cases.
Oil prices traded slightly higher as Brent crude futures rose 0.1% to trade at $75.22 per barrel, while US WTI crude futures rose 0.1% to trade at $71.73 a barrel. The total number of active U.S. oil rigs rose by 4 to 471 rigs this week, Baker Hughes Inc reported Friday.
A Peek Into Global Markets
European markets were higher today. The Spanish Ibex Index rose 0.3% and STOXX Europe 600 Index climbed 0.6%. The French CAC 40 Index rose 0.3%, London’s FTSE 100 rose 0.1% while German DAX 30 climbed 1%. Wholesale prices in Germany surged 16.6% year-over-year in November following a 15.2% increase a month ago.
Asian markets traded mixed today. Japan’s Nikkei 225 rose 0.71%, while Hong Kong’s Hang Seng Index dropped 0.17% and China’s Shanghai Composite gained 0.40%. Australia’s S&P/ASX 200 rose 0.4%, while India’s BSE Sensex fell 0.9%. Manufacturing Production in Hong Kong surged 7.8% year-over-year in the third quarter following a 5.6% growth in the prior period. Total passenger vehicles sales in India fell 4.7% from the earlier month to 215,626 units in November, while core machinery orders in Japan rose 3.8% in October.
UBS upgraded Pfizer Inc. (NYSE:PFE) from Neutral to Buy and raised the price target from $52 to $60.
Pfizer shares rose 1.6% to $53.62 in pre-market trading.
- Cloopen Group Holding Limited (NYSE:RAAS) announced plans to acquire the entire equity interests of Zhuge Inc.
- Kazia Therapeutics Limited (NASDAQ:KZIA) named Karen Krumeich as Chief Financial Officer.
- Intel Corporation (NASDAQ:INTC) will invest $7 billion on manufacturing plant in Malaysia, Bloomberg reported.
- Tesla Inc (NASDAQ:TSLA) CEO Elon Musk has confirmed the electric vehicle maker has no immediate plans to offer any color wraps for its hotly anticipated pickup, the Cybertruck.