• Sun. Nov 27th, 2022

U.S. Stock Futures Higher After Friday’s Jobs Report

ByLisa Levin

Aug 8, 2022
U.S. Stock Futures Higher After Friday’s Jobs Report

Pre-open movers

U.S. stock futures traded higher in early pre-market trade on Monday following Friday’s better-than-expected jobs report. Investors are awaiting earnings results from Tyson Foods, Inc. TSN, Take-Two Interactive Software, Inc. TTWO, American International Group, Inc. AIG and BioNTech SE BNTX.

Check out this: Bitcoin, Ethereum Record Gains; Here Are The Top Crypto Movers For Monday

Futures for the Dow Jones Industrial Average gained 72 points to 32,829.00 while the Standard & Poor’s 500 index futures rose 11.50 points to 4,158.25. Futures for the Nasdaq index gained 60.75 points to 13,289.50.

Oil prices traded lower as Brent crude futures fell 0.5% to trade at $94.47 per barrel, while US WTI crude futures fell 0.5% to trade at $88.53 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 93,910,150 with around 1,058,730 deaths. India reported a total of at least 44,161,890 confirmed cases, while France confirmed over 34,074,560 cases.

 

A Peek Into Global Markets

European markets were higher today. The STOXX Europe 600 Index rose 0.5%, London’s FTSE 100 rose 0.4% while Spain’s IBEX 35 Index climbed 0.7%. The French CAC 40 Index climbed 0.6%, while German DAX gained 0.4%.

The annual inflation rate in Greece fell to 11.5% in July from the 19-year high level of 12.1% in the prior month. The Swiss unemployment rate, meanwhile, remained at 2.0% in July



Asian markets traded mostly higher today. Japan’s Nikkei 225 rose 0.26%, while China’s Shanghai Composite climbed 0.31% and Hong Kong’s Hang Seng Index fell 0.77%. Australia’s S&P/ASX 200 gained 0.1%, while India’s S&P BSE Sensex rose 0.7%.

The gauge for Japan’s service sector sentiment declined to 43.8 in July from 52.9 in the previous month, according to the Economy Watchers’ Survey, while value of loans in the country rose 1.8% year-over-year in July. Japan’s current account swung to a deficit of JPY 132.4 billion in June following a surplus of JPY 739.6 billion in the same month of the prior year. Chinese trade surplus widened to a $101.26 billion in July from $55.89 billion in the same month a year ago, with exports climbing by 18% year-over-year to a seven-month high.



Broker Recommendation

JP Morgan downgraded Ball Corporation BALL from Overweight to Neutral and lowered the price target from $80 to $58.

Ball shares fell 0.3% to $56.18 in pre-market trading.

Check out this: S&P 500 Settles Lower But Market Volatility Eases Following Strong Jobs Report

 

Breaking News

  • CVS Health Corporation CVS is considering a bid for Signify Health, Inc. SGFY, the Wall Street Journal reported on Sunday, citing people familiar with the matter.
  • Baidu Inc. BIDU said on Monday it has secured the country’s first-ever permits to commercially offer fully driverless robotaxi services to the public on open roads in Chongqing and Wuhan.
  • HV Bancorp, Inc. HVBC posted net income of $640,000, or $0.31 per diluted share for the quarter ended June 30, 2022, down from $1.3 million, or $0.63 per diluted share, in the year-ago period.
  • China’s largest manufacturer of new energy vehicles (NEV) BYD BYDDY BYDDF, named on the Fortune Global 500 list earlier this month, is planning to set up a new commercial vehicle and parts production base in Huai’an, eastern Jiangsu province, CnEVPost reported.



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Image and article originally from www.benzinga.com. Read the original article here.