A Peek Into The Markets: US Stock Futures Signal Higher Start On Wall Street

Pre-open movers

U.S. stock futures traded higher in early pre-market trade after the Nasdaq tumbled over 300 points in the previous session despite better-than-expected jobs report for May.

Futures for the Dow Jones Industrial Average jumped 236 points to 33,124.00 while the Standard & Poor's 500 index futures rose 39.25 points to 4,146.25. Futures for the Nasdaq index climbed 160 points to 12,711.00.

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Oil prices traded higher as Brent crude futures rose 0.5% to trade at $120.35 per barrel, while US WTI crude futures rose 0.6% to trade at $119.55 a barrel.

The U.S. has the highest number of COVID-19 cases and deaths in the world, with total infections in the country exceeding 86,522,560 with around 1,033,590 deaths. India reported a total of at least 43,181,330 confirmed cases, while Brazil confirmed over 31,153,760 cases.

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A Peek Into Global Markets

European markets were higher today. The STOXX Europe 600 Index gained 0.9%, London's FTSE 100 climbed 1.4% while Spain's IBEX 35 Index rose 0.9%. The French CAC 40 Index jumped 1.2%, while German DAX gained 1%.

Asian markets traded mixed today. Japan's Nikkei 225 rose 0.56%, China's Shanghai Composite gained 1.28% and Hong Kong's Hang Seng Index jumped 2.7%. Australia's S&P/ASX 200 fell 0.45% and India's S&P BSE Sensex slipped 0.2%. The S&P Global Hong Kong PMI climbed to 54.9 in May from 52.7 a month ago, while Caixin China's general services PMI rose to 41.4 in May from 36.2 in April.

Broker Recommendation

RBC Capital upgraded ResMed Inc. NYSE:RMD from Sector Perform to Outperform and raised the price target from $233 to $244.

ResMed shares fell 1.4% to close at $208.31 on Friday.

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Breaking News

• Alibaba Group Holding Ltd NYSE:BABA affiliate company Ant Group has set up a digital bank called ANEXT Bank in Singapore, and it will be organized as a wholly-owned subsidiary of Ant Group.
• Amid the Russian invasion of Ukraine, the Russian Ministry of Construction, Housing and Utilities website was hacked with an internet search for the site leading to a sign-in page saying "Glory to Ukraine."
• WhatsApp, the instant messaging application from Meta Platforms Inc NASDAQ:FB, is planning another layer of verification in order to deter fraud on smartphones running operating systems from Apple Inc NASDAQ:AAPL and Alphabet Inc NASDAQ:GOOGL NASDAQ:GOOG.
• Nio Inc NYSE:NIO has returned to operating at pre-COVID lockdown levels in Shanghai, CnEVpost reported on Monday, citing the electric vehicle maker's post on the company's mobile app.

Check out other breaking news here