U.S. stock futures traded higher in early premarket trading after upbeat quarterly results from Alphabet Inc. GOOGL. Investors await the results of Meta Platforms, Inc. Facebook, Thermo Fisher Scientific Inc. TMO, Humana inc. HUM and QUALCOMM Incorporated COMQ.
ADP’s National Employment Report for January will be released at 8:15 a.m. ET. Analysts expect private payrolls to rise by 225,000 in January.
Dow Jones Industrial Average futures rose 48 points to 35,322.00 while Standard & Poor’s 500 Index futures gained 36.25 points to 4,571.25. Nasdaq index futures jumped 235 points to 15,229.75.
The United States has the highest number of COVID-19 cases and deaths in the world, with the total number of infections in the country exceeding 76,516,200 with approximately 913,920 deaths. India has reported a total of at least 41,630,880 confirmed cases, while Brazil has confirmed more than 25,625,130 cases.
Oil prices rose as Brent crude futures rose 0.4% to trade at $89.52 a barrel, while U.S. WTI crude futures rose 0, 4% to trade at $88.55 a barrel. U.S. crude oil inventories fell 1.645 million barrels last week, the API said on Tuesday. The Energy Information Administration’s weekly report on U.S. oil inventories is scheduled for release at 10:30 a.m. ET.
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An overview of global markets
European markets were up today. The STOXX Europe 600 index climbed 0.6%, while Spain’s IBEX 35 index rose 0.3% and London’s FTSE 100 rose 0.7%. The French CAC 40 index rose 0.3%, while the German DAX climbed 0.5%. The French state budget deficit shrank to 170.7 billion euros in 2021, compared to 178.1 billion euros the previous year. The number of people registered as unemployed in Spain rose by 17,173 from the previous month to 3.12 million in January, while the number of foreign tourist arrivals jumped 355% year-on-year to 2, 95 million in December.
Asian markets rose today. Japan’s Nikkei gained 1.68%, while Australia’s S&P/ASX 200 rose 1.2% and India’s BSE SENSEX gained 1.2%.
Improved JP Morgan Kodiak Sciences Inc. K.O.D. from neutral to overweight and announced a price target of $90.
Shares of Kodiak Sciences rose 6.1% to close at $62.27 on Tuesday.
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- Alphabet Inc. GOOG announced better than expected results for its fourth quarter. The company’s board also approved a 20-to-1 stock split.
- General Motors Company GM reported better-than-expected earnings for its first quarter, while sales missed views. The company said it expects net income for fiscal year 22 of $9.4 billion to $10.8 billion.
- MicroStrategy Inc. MSTR recorded a digital asset impairment charge of $146.6 million in the last fourth quarter, but the business intelligence firm continues to add more Bitcoin BTC/USDto his assets.
- PayPal Holdings, Inc. PYPL announced lower profits for its fourth quarter and issued a weak profit forecast for FY22.
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