A Peek Into The Markets: U.S. Stock Futures Gain; All Eyes On Jobs Report

Pre-open movers

U.S. stock futures traded higher in early pre-market trade. Data on nonfarm payrolls and unemployment rate for February will be released at 8:30 a.m. ET, while the U.S. Treasury budget report for February will be released at 2:00 p.m. ET.

Futures for the Dow Jones Industrial Average climbed 63 points to 20,891.00, while the Standard & Poor’s 500 index futures rose 7.75 points to 2,371.00. Futures for the Nasdaq 100 index gained 16.50 points to 5,387.25.

Oil prices traded higher as Brent crude futures gained 0.42 percent to trade at $52.41 per barrel, while US WTI crude futures rose 0.51 percent to trade at $49.53 a barrel. The Baker Hughes North American rig count report for the latest week is schedule for release at 1:00 p.m. ET.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index rising 0.45 percent, STOXX Europe 600 Index rising 0.76 percent and German DAX 30 index gaining 0.61 percent. The UK's FTSE index was trading higher by 0.45 percent, while French CAC 40 Index climbed 0.60 percent.

In Asian markets, Japan’s Nikkei Stock Average rose 1.48 percent, Hong Kong’s Hang Seng Index gained 0.29 percent, China’s Shanghai Composite Index fell 0.12 percent and India’s BSE Sensex rose 0.06 percent.

Broker Recommendation

Analysts at BTIG Research downgraded VeriFone Systems Inc (NYSE: PAY) from Buy to Neutral.

VeriFone shares fell 0.74 percent to $20.20 in pre-market trading.

Breaking news

• Finisar Corporation (NASDAQ: FNSR) reported weaker-than-expected results for its third quarter and issued disappointing forecast for the current quarter.
• Hibbett Sports, Inc. (NASDAQ: HIBB) posted in-line earnings for its fourth quarter on Friday.
• Ulta Beauty Inc (NASDAQ: ULTA) reported better-than-expected results for its fourth quarter, but issued a weak outlook for the current quarter. The company’s board also announced a $25 million share buyback plan.
• Zumiez Inc. (NASDAQ: ZUMZ) posted upbeat results for its fourth quarter. However, the company issued a downbeat guidance for the current quarter.