US stock futures traded lower in early premarket trading after the Dow Jones jumped more than 250 points in the previous session. Investors await the results of Campbell Soup Company pcb, ABM Industries Incorporated ATM and Thor Industries, Inc. THO.
Wholesale inventory data for April will be released at 10:00 a.m. ET. Analysts expect wholesale inventories to rise 2.1% in April.
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Dow Jones Industrial Average futures fell 127 points to 33,038.00 while Standard & Poor’s 500 index futures fell 15.50 points to 4,143.25. Nasdaq index futures fell 42 points to 12,669.50.
Oil prices rose as Brent crude futures rose 0.2% to trade at $120.78 a barrel, while U.S. WTI crude futures rose 0, 4% to trade at $120.78 a barrel. The Energy Information Administration’s weekly report on U.S. oil inventories will be released at 10:30 a.m. ET.
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 86,782,400 with approximately 1,034,280 fatalities. India has reported a total of at least 43,190,280 confirmed cases, while Brazil has confirmed more than 31,266,160 cases.
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An overview of global markets
European markets were down today. The STOXX Europe 600 index fell 0.4%, London’s FTSE 100 fell 0.2% while the Spanish IBEX 35 index fell 0.2%. The French CAC 40 index fell 0.4%, while the German DAX fell 0.4%. France’s trade deficit narrowed to 12.2 billion euros in April, from a record gap of 12.7 billion euros the previous month, and recorded a current account deficit of 3.4 billion euros. Industrial production in Germany rose 0.7% in April, while the house price index in Halifax in the UK rose 10.5% year-on-year in May.
Asian markets traded mostly higher today. Japan’s Nikkei 225 rose 1.04%, China’s Shanghai Composite gained 0.68% and Hong Kong’s Hang Seng Index jumped 2.24%. Australia’s S&P/ASX 200 rose 0.4% and India’s S&P BSE Sensex fell 0.4%. Japan’s economy shrank 0.5% year on year in the first quarter, while the current account surplus contracted to 501.1 billion yen in April. The value of loans in Japan rose 0.7% year-on-year in May, while the services sector sentiment indicator rose 3.6 points from the previous month to 54 in May. The Reserve Bank of India raised its key rate by 50 basis points to 4.9% at its June meeting.
Continuation of the Telsey Advisory Group Target TGT with an outperformance and lowered the price target from $200 to $185.
Target shares fell 2.3% to close at $155.98 on Tuesday.
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- Novavax, Inc. NVAX said the U.S. FDA’s Vaccines and Related Biologicals Advisory Committee voted to recommend that the FDA grant an emergency use authorization (EUA) for the Novavax COVID-19 vaccine (NVX- CoV2373) for people aged 18 and over.
- Tesla Inc. TSLA CEO Elon Musk on Tuesday advised an electric vehicle owner to avoid using cabin recirculation mode because the range benefit is low.
- Verint Systems Inc. VRNT announced better-than-expected results for its first quarter on Tuesday.
- Payment company PayPal Holdings Inc. PYPL has converted its conditional virtual currency license into a full-fledged “BitLicense”.
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