US Stocks Eye Modestly Higher Open, Echoing Asia, Europe Sentiment After Yellen Comments

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U.S. stocks were poised to open modestly in the black on Tuesday, reflecting overnight gains in Asia as well as positive sentiment in Europe after Federal Reserve Chair Janet Yellen Monday suggested that global risks are still present, naming the U.K. vote on whether to exit the European Union as well as challenges in China.

Recent Brexit polls showed a return to majority for the "stay" camp.

In economic data, non-farm productivity improved as expected to a negative 0.6% for Q1 from a negative 1.0% in Q4. The consensus range was between a negative 0.8% and unchanged, according to data compiled by Econoday. Unit labor costs meanwhile rose to 4.5% compared to expectations for it to remain unchanged at 4.1%. The consensus range was between 3.7% and 4.7%.

In equities, LDR Holdings ( LDRH ) surged 63% in pre-market trade after Zimmer Biomet ( ZBH ) agreed to acquire the medical device company for $37 per share, a near 64% premium to Monday's close.


-Dow Jones Industrial up 0.17%

-S&P 500 futures up 0.12%

-Nasdaq 100 futures up 0.11%

-Nasdaq 100 pre-market indicator down 0.07%


Nikkei up 0.58%

Hang Seng up 1.42%

Shanghai Composite up 0.07%

FTSE-100 up 0.25%

DAX-30 up 1.64%


(+/-) Large cap tech: mixed

(+) Chip stocks: unchanged to higher

(+) Software stocks: unchanged to higher

(+/-) Hardware stocks: mixed

(+/-) Internet stocks: mixed

(+) Oil stocks: higher

(-) Biotech: lower

(+/-) Drug stocks: mixed

(+) Financial stocks: unchanged to higher

(-) Retail stocks: unchanged to lower

(+) Industrial stocks: unchanged to higher

(+) Airlines: unchanged to higher

(+) Autos: unchanged to higher


(+) SRPT (+30.2%) FDA requests additional data on Duchenne muscular dystrophy drug

(+) RDS.A (+3.3%) Lifts BG synergies estimate to $4.5 billion vs $3.5 billion

(+) SYNC (+6.0%) Says CNSL selects its end-to-end video solutions

(+) CTIC (+11.6%) Myelofibrosis treatment meets primary endpoint

(+) EAC (+209.1%) Wins US Navy contracts worth $70 million


(-) VRX (-16.3%) Fiscal Q1 earnings miss views, cuts 2016 targets

(-) RL (-9.7%) Unveils restructuring plan

(-) VBLT (-13.4%) To sell nearly 4.4 million shares in stock offering at $5.50 each

(-) BIIB (-8.9%) Phase 2 study of MS drug misses primary, secondary endpoints

(-) CTLT (-6.1%) Shareholders to sell 10 million shares in public offering

(-) ALXN (+9.0%) Phase 3 study of generalized myasthenia gravis drug doesn't meet primary endpoint

(-) HMNY (-15.9%) Gives up some of Monday's gains made on Zone Tech merger deal

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

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This article appears in: Investing , Stocks
Referenced Symbols: ZBH

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