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Wall Street Sees Upbeat Open on Renewed Trade Hopes, Brexit Delay


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US stocks were set for an upbeat open Friday as markets were cheered by positive signals that trade talks between the US and China were progressing, while UK lawmakers agreed to delay their country's exit from the European Union.

Oil prices slipped with global benchmark Brent crude down 0.80%, and US West Texas Intermediate crude down 0.61% recently ahead of a weekly reading on the number of operating oil and gas rigs in North America.

Data released at 8:30 am showed the Empire State manufacturing index came in at 3.7, vs 10.0 estimate, for March following the 8.8 level in February, according to data compiled by Econoday.

At 9:15 am, forecasters see February industrial production coming in at a 0.4% gain following a 0.6% decline in the previous month, while manufacturing production is seen posting a 0.4% rise for the month versus a 0.9% contraction in the previous month.

At 10 am, forecasters see a further bounce for consumer sentiment calling for a preliminary March reading of 95.2 versus February's 93.8.

In equities, shares of Arcadia ( RKDA ) were 23.1% higher pre-bell after the company secured US Food and Drug Administration approval for use of Sonova GLA safflower oil in cat food.

U.S. PRE-MARKET INDICATORS

-Dow Jones Industrial up 0.48%

-S&P 500 futures up 0.43%

-Nasdaq 100 futures up 0.56%

-Nasdaq 100 pre-market indicator up 0.27%

GLOBAL SENTIMENT

Nikkei up 0.77%

Hang Seng up 0.56%

Shanghai Composite up 1.04%

FTSE-100 up 0.62%

DAX-30 up 0.91%

PRE-MARKET SECTOR WATCH

(+/-) Large cap tech: mixed

(+/-) Chip stocks: mixed

(+/-) Software stocks: mixed

(+) Hardware stocks: unchanged to higher

(+/-) Internet stocks: mixed

(+) Oil stocks: unchanged to higher

(-) Biotech stocks: unchanged to lower

(+/-) Drug stocks: mixed

(+) Financial stocks: unchanged to higher

(+/-) Retail stocks: mixed

(+/-) Industrial stocks: mixed

(+) Airlines: unchanged to higher

(+/-) Autos: mixed

UPSIDE MOVERS

(+) SLNO (+45.9%) Data safety monitoring board review says Prader-Willi syndrome study can continue with no changes

(+) ACHV (+93.5%) Narrows Q4 loss vs year-ago level

(+) HAIR (+45.1%) Widens Q4 loss while revenues rise year-over-year

DOWNSIDE MOVERS

(-) TSLA (-3.1%) Debuts Model Y SUV

(-) TRTX (-3.6%) Prices stock offering at 2.5% discount

(-) DPLO (-13.6%) Swings to Q4 loss, revenue rises

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: RKDA




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