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  1. US markets today: Dow, S&P 500, Nasdaq futures indicate gap-up open amid 7% fall in crude oil prices

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US markets today: Dow, S&P 500, Nasdaq futures indicate gap-up open amid 7% fall in crude oil prices

SUMMARY

US futures indicate a positive opening on Monday, July 27, as investors focus on lower crude oil prices, major Q2 earnings, and momentum cues from the tech stocks in Asian markets.

Dow Jones, S&P 500 and Nasdaq futures indicate a positive open ahead of the opening bell on Monday, July 27. | Image: Shutterstock

Dow Jones, S&P 500 and Nasdaq futures indicate a positive open ahead of the opening bell on Monday, July 27. | Image: Shutterstock

US markets today: Equity futures on Wall Street indicate a gap-up opening on Monday, July 27, as investors were focusing on the 7% fall in global crude oil prices, positive cues from Asian markets, and a temporary pause in the military strikes between the United States and Iran.
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The Dow Jones futures were trading 1.17% higher at 52,738 points ahead of the stock market opening bell on Monday, indicating a nearly 800-point rally when compared to the previous week’s market close levels.

The S&P 500 index futures were trading 0.88% higher at 7,513.25 points ahead of the Wall Street open, indicating around a 100-point higher opening on Monday’s market, as per Investing.com data.

Data also showed that the Nasdaq 100 futures were trading 1.4% higher at 28,676 points ahead of the Wall Street open, indicating a more than 500-point higher opening on July 27 amid positive cues from the technology stocks in Asia.

Key things to watch before US market opens

US market recap

US equity market indices ended on a mixed note after their trading session on Friday as investors' sentiment was aided by the pullback in crude oil prices, while concerns remained over the high-growth tech and chipmaking stocks, which were still witnessing selloff cues.

The Dow Jones Industrial Average ended 0.46% higher at 51,947.25 points after Friday’s trading session, compared to 51,711.65 points at the previous stock market session, according to MarketWatch data.

While the S&P 500 index closed 0.05% higher at 7,411.98 points after the trading session on July 24, compared to 7,408.30 points at the previous equity market close, as per the exchange data.

In contrast, the tech-heavy Nasdaq 100 index closed 1.15% lower at 28,128.34 points after Friday’s Wall Street session, compared to 28,454.81 points at the previous stock market session.

Stocks to watch on July 27

Vodafone Group: Vodafone Group shares were trading more than 5% higher during pre-market hours on Monday, as the company is set to announce its April to June quarter earnings during the trading session.
Coca-Cola Femsa ADR: Coca-Cola Femsa shares were trading 2% higher ahead of the company’s June quarter earnings release on Monday’s market.
Key earnings stocks: AstraZeneca, Cadence Design Systems, Universal Health Services, Dyne Therapeutics, Bank of Hawaii Corp., Park National Corp., Alliance Resource Partners, Whirlpool Corp., Costamare, Hope Bancorp., and Lakeland Financial Corp are among other companies set to announce their April-June quarter results on July 27.

Global markets today

Investors were also focused on the positive momentum from the Asian markets, which ended in the green amid the drop in crude oil prices and the tech stocks' performance.

MarketWatch data showed that indices like Japan’s Nikkei 225 ended 0.5% higher, Hang Seng closed 0.98% higher, Shanghai Composite closed 1.15% higher, South Korea’s KOSPI closed 0.97% higher, and Singapore’s FTSE ended 0.57% higher on July 27.

Oil price check today

Global benchmark Brent crude oil prices declined 7.6% on Monday’s market session to $84.65 per barrel (bbl), compared to $91.68 per bbl at the previous commodity market close, according to Investing.com data.

At 6:58 pm (IST), Brent crude prices were trading 4.7% lower at $87.34 per bbl on Friday’s market session, compared to the previous market close levels, according to exchange data.

Crude oil prices dropped on Monday’s market as investors were reacting to reports of the United States temporarily pausing their military strikes on Iran after 13 consecutive rounds of night attacks against the West Asian country.

Disclaimer: This article is purely for informational purposes and should not be considered investment advice from Upstox. Please consult with a financial advisor before making any investment decisions.

About The Author

Anubhav Mukherjee
Anubhav Mukherjee is a business journalist with experience at leading financial news platforms. He writes on a wide range of topics, including equity markets, corporate developments, company earnings and commodities. He holds a Post-Graduate Diploma in Business & Financial Journalism by Bloomberg from the Asian College of Journalism.

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