Here are five things you must know for Thursday, June 13:
1. -- Stock Futures Rise but Trade Tensions Dent Enthusiasm
U.S. stock futures were higher on Thursday though sentiment was dented by doubts the U.S. and China will reach a trade agreement during the G-20 summit in Osaka, Japan, at the end of June.
Contracts tied to the Dow Jones Industrial Average rose 72 points, futures for the S&P 500 gained 8.50 points, and Nasdaq futures were up 32.75 points.
Stocks finished down Wednesday for the second straight session, pulled lower by weakness in shares of technology and banking names.
Donald Trump has said he expects to meet Chinese President Xi Jinping at the G-20 meeting on June 28-29. But the U.S. president said he was prepared to expand existing tariffs if a deal with Beijing falls through. The U.S. and China have held 11 rounds of trade talks but have yet to secure an agreement.
The economic calendar in the U.S. on Thursday includes weekly Jobless Claims at 8:30 a.m. ET, and Import and Export Prices for May at 8:30 a.m.
2. -- Oil Prices Spike on Reports Two Tankers Attacked in Gulf of Oman
Oil prices spiked amid reports two oil tankers were attacked in the Gulf of Oman.
The U.S. Navy said it was assisting two oil tankers after receiving two separate distress calls early Thursday.
The latest incident comes after the U.S. alleged that Iran used mines to attack four oil tankers off the nearby Emirati port of Fujairah in May.
Cmdr. Joshua Frey, a 5th Fleet spokesman, said the U.S. Navy was assisting the two vessels that he described as being hit in a "reported attack." He did not say how the ships were attacked or who was suspected of being behind the assault, the Associated Press reported.
Brent crude rose 3.45% to $62.04 a barrel and West Texas Intermediate crude jumped 3% to $52.69. Oil prices touched five-month lows on Wednesday
3. -- RH Soars as Earnings Easily Beat Estimates
RH (RH - Get Report) soared 25.8% in premarket trading Thursday to $119.38 after the retailer formerly known as Restoration Hardware raised its fiscal-year sales and profit guidance following first-quarter earnings that easily beat Wall Street forecasts.
The home furnishings company said it expects adjusted earnings for the year of $8.76 to $9.27 a share on revenue of between $2.64 billion and $2.66 billion.
Adjusted earnings in the company's first quarter were $1.85 a share on revenue of $598.4 million. Analysts had been expecting earnings of $1.53 a share on revenue of $584 million.
RH also addressed the rising trade tensions between Washington and Beijing saying that it doesn't believe the "current trade climate will impair our ability to achieve our stated financial goals."
China accounted for around 40% of RH's merchandise purchases in 2017, according to The Wall Street Journal. The company has raised prices on selected products to offset tariffs the U.S. has imposed on China-made goods.
4. -- Lululemon Jumps After Lifting Fiscal-Year Outlook
Lululemon Athletica (LULU - Get Report) , the athleisure maker, jumped 6.2% to $181.50 in premarket trading Thursday after topping first-quarter earnings and sales forecasts and lifting its fiscal-year outlook.
The company earned 74 cents a share in the period, beating Wall Street forecasts by 3 cents. Revenue of $782.3 million rose 20% from a year earlier and topped estimates of $756 million. Comparable-store sales rose 6%.
"Lululemon continues to see strong momentum across the entire business," said CEO Calvin McDonald.
For the second quarter, Lululemon expects to earn between 86 cents and 88 cents a share on revenue of $825 million to $835 million. Analysts are calling for earnings of 88 cents a share on revenue of $835 million.
The company estimated fiscal-year profit at $4.51 to $4.58 a share on revenue of $3.73 billion to $3.77 billion. It previously guided for profit of $4.48 to $4.55.
5. -- St. Louis Blues Win First Stanley Cup
The St. Louis Blues beat the Boston Bruins 4-1 in Game 7 of the Stanley Cup Final and claimed their first National Hockey League championship.
The Blues had the worst record in the league on Jan. 1, but won 30 of their final 49 regular-season games and soared through the playoffs to reach the final for the first time since 1970.
Coach Craig Berube, who took over when Mike Yeo was fired in November, is the fourth coach in the past 11 years hired in midseason to lead his team to the NHL title, according to the Associated Press.