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Stock Futures Remain Buoyant But Restrained Ahead of Beige Book


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Wall Street is showing more restraint on Wednesday after the S&P 500 and Dow broke new records yesterday as investors wait for more direction from Dallas Fed President Rob Kaplan and the Fed's Beige Book. Caution was introduced overnight after Japan's government ruled out the use of "helicopter money" to boost the economy, and China's trade data indicated a greater-than-expected drop in imports.

Early U.S. economic data indicated an increase in import and export prices in June. Import prices were up 0.2% while export prices rose by a more robust 0.8%. This compares to estimates for a gain of 0.5% and 0.3%, respectively.

Into the open, Dow futures are 38 points above fair value, while S&P futures are 6 points above fair value.

-Dow Jones Industrial up 0.13%

-S&P 500 futures up 0.19%

-Nasdaq 100 futures up 0.24%

SENTIMENT

Nikkei up 0.84%

Hang Seng up 0.46%

Shanghai Composite up 0.36%

FTSE-100 up 0.05%

DAX-30 up 0.18%

PRE-MARKET SECTOR WATCH

(+) Large cap tech: Higher

(+/-) Chip stocks: Mixed

(+) Software stocks: Higher

(+) Hardware stocks: Higher

(+) Internet stocks: Higher

(-) Oil stocks: Lower

(+) Biotech stocks: Higher

(+) Drug stocks: Higher

(-) Financial stocks: Lower

(-) Retail stocks: Lower

(+) Industrial stocks: Higher

(+) Airlines: Higher

(+) Autos: Higher

UPSIDE MOVERS:

(+) IMPR (+32.00%) To be acquired by Thoma Bravo for $544 million

(+) JUNO (+24.22%) FDA removed clinical hold on phase 2 trial of JCAR015 for treatment of acute lymphoblastic leukemia

(+) GERN (+3.70%) Issued two patents related to Imetelstat

(+) TEVA (+3.22%) Raised Q2 guidance

DOWNSIDE MOVERS:

(-) LEDS (-18.10%) Q2 sales and profit fell from year ago

(-) GWPH (-5.10%) Priced 2.8 million offering at $90 per ADR

(-) MIK (-4.67%) Announced 11 million share offering, expects Q2 results in to lower-to-middle range of earlier outlook

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

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.



This article appears in: Investing , Stocks


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