US Futures Nearly Unchanged as Market Mulls Washington Budget, Debt Limit Risks

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US stock futures were mixed as investors watched lawmakers in Washington move closer to a deadline for reaching a deal on a budget and for raising the debt ceiling, without which the government will be forced into a shutdown. Yesterday, U.S. Treasury Secretary Jack Lew said that the markets' confidence that a deal will be struck is "greater than it should be."

The Dow future was up 0.02%, the Nasdaq 100 was flat and the S&P 500 future was down 0.11%.

August durable goods orders meanwhile rose by 0.1% compared to the consensus for a drop of 0.6%. Data on new-home sales in August will be out on 10 a.m.


In equities, Oncothyreon ( ONTY ) rose 26.67% after saying Merck Serono will continue clinical development of the MUC1 antigen-specific cancer immunotherapy tecemotide under a license agreement with ONTY. Clovis Oncology ( CLVS ) fell 13.76% after Bloomberg reported the company is struggling to find a buyer.

U.S. PRE-MARKET INDICATORS

-Dow Jones Industrial up 0.02%

-S&P 500 futures down 0.05%

-Nasdaq 100 futures unchanged

-Nasdaq-100 Pre-Market Indicator up 0.11%

GLOBAL SENTIMENT

Nikkei down 0.76%

Hang Seng up 0.13%

Shanghai Composite down 0.41%

FTSE-100 down 0.35%

DAX-30 down 0.13%

PRE-MARKET SECTOR WATCH

(+/-) Large cap tech: mixed

(+/-) Chip stocks: unchanged

(+/-) Software stocks: unchanged

(+) Hardware stocks: higher

(+) Internet stocks: higher

(+/-) Drug stocks: flat

(+/-) Financial stocks: mixed

(+/-) Retail stocks: unchanged

(+) Industrial stocks: higher

(+/-) Airlines: unchanged

(+) Autos: higher

UPSIDE MOVERS

(+) MAKO (+82.87%) Stryker to buy company for $30 per share or $1.65 billion

(+) ASNA (+11.72%) Beat Q4 expectations; FBR upgraded stock to market perform

(+) YHOO (+0.61%) Moved towards fresh 52-week high on positive Marketwatch report

DOWNSIDE MOVERS

(-) CCL (-4.02%) Morgan Stanley cut rating to underweight from equalweight

(-) JCP (-2.10%) Co plans to hire 35,000 holiday workers, Reuters reported

(-) CLDT (-6.14%) Prices 3.25 million share sale at discounted $18.35 per share



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


This article appears in: Investing , Commodities

Referenced Stocks: CLVS , ONTY

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