movers who arrive before the doors open
In early pre-market trade, U.S. stock futures were higher ahead of initial unemployment claims data. The Dow Jones gained more than 200 points on Wednesday, while the S&P 500 set a new high in the previous session. Walgreens Boots Alliance Inc (NASDAQ: WBA), McCormick & Company, Incorporated (NYSE: MKC), and Acuity Brands, Inc. are all expected to report earnings this week (NYSE: AYI)
At 7:30 a.m. ET, the Challenger job-cut report for June will be released, followed by statistics on initial jobless claims for the most recent week at 8:30 a.m. ET. Analysts estimate unemployment claims to fall to 395,000 for the week ending June 26 from 411,000 the week before. At 9:45 a.m. ET, the Markit manufacturing PMI for June will be issued, followed by the ISM manufacturing composite index for June and data on construction spending for May at 10:00 a.m. ET. Atlanta Federal Reserve Bank At 2:00 p.m. ET, President Raphael Bostic will speak.
The Dow Jones Industrial Average futures rose 130 points to 34,529.00, while the S&P 500 index futures rose 15 points to 4,303.50. The Nasdaq 100 index futures increased 36.25 points to 14,585.25.
The United States has the highest number of COVID-19 cases and deaths in the world, with a total of 33,664,890 infections and 604,710 deaths. In India, there were at least 30,411,630 verified cases, whereas in Brazil, there were over 18,557,140 confirmed cases.
Brent crude futures increased 0.9 percent to $75.31 per barrel, while US WTI crude futures rose 1 percent to $74.21 per barrel. The Energy Information Administration said Wednesday that US crude oil stocks declined by 6.718 million barrels in the week ending June 25th. The weekly data on natural gas stockpiles in underground storage from the Energy Information Administration is set to be released at 10:30 a.m. ET.
A Glimpse of the World’s Markets
Today’s European stock markets were higher. The Ibex Index in Spain increased by 1.2 percent, while the STOXX Europe 600 Index increased by 1.1 percent. The CAC 40 Index in France increased by 1.2 percent, the FTSE 100 in London increased by 1.2 percent, and the DAX 30 in Germany increased by 1.1 percent. The manufacturing PMI in Italy fell to 62.2 in June from 62.3 the previous month, while the manufacturing PMI in Spain fell to 60.4 from 59.4. In May, retail sales in Germany increased by 4.2 percent.
Today’s Asian markets were largely down. The Nikkei 225 index in Japan sank 0.29 percent, while the Hang Seng Index in Hong Kong fell 0.57 percent and China’s Shanghai Composite Index fell 0.07 percent. The S&P/ASX 200 index in Australia declined 0.7 percent, while the BSE Sensex in India increased 0.1 percent. The Caixin China general manufacturing PMI fell from 52 in May to 51.3 in June. The Australian trade surplus increased to AUD 9.68 billion in May, up from AUD 8.16 billion the previous month, while the IHS Markit manufacturing PMI fell to 58.6 in June, down from 60.4. In June, the manufacturing PMI in Japan increased to 52.4 from a preliminary reading of 51.5. The manufacturing PMI in India fell to 48.1 in June from 50.8 the previous month.
News of the Day
Micron Technology, Inc. (NASDAQ: MU) released third-quarter results that were better than predicted. Texas Instruments has agreed to buy the company’s fab in Lehi, Utah.
CureVac N.V. (NASDAQ: CVAC) announced the results of its first-generation COVID-19 vaccine candidate’s Phase 2b/3 trial.
Realty Income Corporation (NYSE: O) has priced an underwritten public offering of 8,000,000 shares of common stock for an estimated gross profit of $519 million.
Bloomberg News reported that Alibaba Group Holding (NYSE: BABA) is planning its first major investment since paying a record antitrust punishment as part of a crackdown on the Jack Ma-led corporation.
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