A Peek Into The Markets: US Stock Futures Gain After Upbeat Jobs Data

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Pre-open movers

U.S. stock futures traded higher in early pre-market trade following better-than-expected jobs report released on Friday. Nonfarm payrolls climbed by 916,000 jobs in March, while the unemployment rate fell to 6%. Investors are awaiting earnings results from Duck Creek Technologies, Inc. (NASDAQ: DCT).

US Services Purchasing Managers’ Index for March is scheduled for release at 9:45 a.m. ET, while data on factory orders for February and the ISM’s services index for March will be released at 10:00 a.m. ET.

Futures for the Dow Jones Industrial Average gained 205 points to 33,242.00 while the Standard & Poor’s 500 index futures rose 21.75 points at 4,031.75. Futures for the Nasdaq 100 index rose 63.50 points to 13,379.50.

The U.S. has the highest number of COVID-19 cases and deaths in the world, with total infections in the country exceeding 30,706,120 with around 555,000 deaths. Brazil confirmed over 12,984,950 cases, while India reported a total of at least 12,589,060 confirmed cases.

Oil prices traded lower as Brent crude futures fell 1.9% to trade at $63.62 per barrel, while US WTI crude futures fell 1.8% to trade at $60.33 a barrel. The Energy Information Administration said US natural-gas supplies climbed 14 billion cubic feet last week, while the total number of active U.S. oil rigs rose by 13 to 337 rigs this week, Baker Hughes Inc reported Thursday.

A Peek Into Global Markets

European markets were closed on Easter Monday.

Asian markets traded mostly higher today. Japan’s Nikkei 225 rose 0.79%, China’s Shanghai Composite climbed 0.52% and Hong Kong’s Hang Seng Index rose 1.97%. Australia’s S&P/ASX 200 rose 0.6%, while India’s BSE Sensex fell 1.7%. India’s manufacturing PMI fell to 55.4 in March from 57.5 in the previous month. Japan’s services PMI was revised upward to 48.3 for March versus a preliminary reading of 46.5, while composite PMI was revised higher to 49.9 from preliminary estimate of 48.3.

Broker Recommendation

HC Wainwright & Co. downgraded BeyondSpring Inc. (NASDAQ: BYSI) from Buy to Neutral.

BeyondSpring shares rose 0.5% to $10.85 in pre-market trading.

Breaking News

  • Tesla Inc (NASDAQ: TSLA) reported that it has delivered 184,800 vehicles in the first quarter, handily exceeding the 168,000 number analysts expected.
  • Icahn Enterprises LP (NASDAQ: IEP) named former GE executive Aris Kekedjian as its CEO, the Wall Street Journal reported.
  • Bank of America Corp (NYSE: BAC) announced the acquisition of Axia Technologies, Inc., a health care payment and technology firm focused on facilitating secure patient payments.
  • Franklin Covey Co. (NYSE: FC) reported a narrower-than-expected loss for its second quarter, while sales missed estimates.

Check out other breaking news here

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