US stocks were set for a mixed open Wednesday as investors focused on more corporate earnings, with few readings on the US economy on tap.
Oil prices nudged higher with global benchmark Brent crude up 0.01%, and US West Texas Intermediate crude up 0.5% recently, as Saudi Arabia pledged to offset any supply shortfalls and ahead of official data on US crude stockpiles.
At 9 am, data are expected to show the Federal Housing Finance Agency house price index gaining 0.3% for August versus July's 0.2%, according to data compiled by Econoday.
At 9:45 am, forecasters see little change in the PMI composite at 54.1 in October vs prior level of 53.4.
At 10 am, new homes sales are expected to hold steady and relatively solid at a 625,000 annualized rate in September vs August's 629,000 rate.
In equities, shares of STMicroelectronics ( STM ) were 10.6% lower pre-bell even after the semiconductor company reported Q3 financial results that topped Street estimates.
U.S. PRE-MARKET INDICATORS
-Dow Jones Industrial up 0.1%
-S&P 500 futures down 0.3%
-Nasdaq 100 futures down 0.2%
-Nasdaq 100 pre-market indicator up 0.08%
Nikkei up 0.37%
Hang Seng down 0.38%
Shanghai Composite up 0.33%
FTSE-100 up 1.19%
DAX-30 up 0.78%
PRE-MARKET SECTOR WATCH
(+/-) Large cap tech: mixed
(-) Chip stocks: lower
(+) Software stocks: unchanged to higher
(+/-) Hardware stocks: mixed
(+) Internet stocks: higher
(+/-) Oil stocks: mixed
(+/-) Biotech stocks: mixed
(+/-) Drug stocks: mixed
(+) Financial stocks: higher
(-) Retail stocks: unchanged to lower
(+/-) Industrial stocks: mixed
(+) Airlines: unchanged to higher
(+/-) Autos: mixed
(+) PLAG (+26.1%) Regains compliance with NYSE American listing rules
(+) BA (+4%) Tops Q3 estimates
(+) AMCN (+26.1%) Signs strategic cooperation agreements with multiple airlines
(-) T (-3.5%) Q3 misses estimates
(-) DB (-4.1%) Q3 EPS meets views, misses on revenue
(-) TXN (-6.2%) Meets Q3 EPS estimates, shy on sales