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Wall Street Sees Solid Open Amid Earnings, Fed Speakers


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US stocks were set for a solid open Tuesday amid a fresh wave of corporate earnings and a big lineup of Federal Reserve speakers.

Oil prices slipped with global benchmark Brent crude down 0.50%, and US West Texas Intermediate crude down 0.56% recently as traders looked ahead to fresh data on US commercial crude inventories to get clues on the strength of demand in the world's largest oil consumer.

Data released at 8:30 am showed a stronger-than-expected gain in housing starts in March to 1.319 million from February's revised reading of 1.295 million and estimates for 1.264 million, according to data compiled by Econoday.

At 9:15, forecasters see industrial production rising 0.4% in March, with the manufacturing component seen rising 0.2%.

Federal Reserve presidents John Williams, Patrick Harker and Charles Evans and Vice-Chairman Randal Quarles were scheduled to speak.

In equities, shares of ChinaNet Online ( CNET ) rose 40% pre-bell as the company reported sharply higher Q4 revenue.

U.S. PRE-MARKET INDICATOR

-Dow Jones Industrial up 0.84%

-S&P 500 futures up 0.61%

-Nasdaq 100 futures up 0.67%

-Nasdaq 100 pre-market indicator up 0.75%

GLOBAL SENTIMENT

Nikkei up 0.06%

Hang Seng down 0.83%

Shanghai Composite down 1.41%

FTSE-100 up 0.25%

DAX-30 up 1.06%

PRE-MARKET SECTOR WATCH

(+) Large cap tech: unchanged to higher

(+) Chip stocks: unchanged to higher

(+) Software stocks: higher

(+) Hardware stocks: unchanged to higher

(+) Internet stocks: higher

(+) Oil stocks: higher

(+) Biotech stocks: unchanged to higher

(+) Drug stocks: unchanged to higher

(+) Financial stocks: higher

(+/-) Retail stocks: mixed

(+) Industrial stocks: unchanged to higher

(-) Airlines: higher

(+/-) Autos: mixed

UPSIDE MOVERS

(+) NFLX (+7.3%) Q1 results top estimates

(+) MNGA (+5.3%) Generates record sales for March

(+) ROKU (+8.1%) Launches ESPN+ on platform

DOWNSIDE MOVERS

(-) NLST (-31.8%) Gets US ITC to probe SKY hynix in patent infringement

(-) BLCM (-7.9%) Starts sale of 7 million shares

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
Referenced Symbols: CNET



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