Wall Street Sees Upbeat Session as Data Beat Estimate, Oil Rallies

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US stock futures were pointing north on Thursday as traders evaluated readings on jobless claims and the consumer price index, while a couple big deals also helped buoy the market.

Oil prices nudged higher, following sharp losses from the previous session, with global benchmark Brent crude up 1.20%, and US crude West Texas Intermediate up 0.88% recently as the International Energy Agency warned of output capacity limits.

Data released at 8:30 am showed consumer prices rose 0.1% in June vs expectations for a 0.2% gain, while core rate increased in-line with expectations at a 0.2% gain. Unemployment claims came in at 214,000 in the July 7 week vs estimates for 225,000 and the 231,000 in the prior week, according to data compiled by Econoday.

In equities, shares of CA Technologies ( CA ) were 18% higher after the company agreed to be acquired by Broadcom for $18.9 billion in cash.


-Dow Jones Industrial up 0.82%

-S&P 500 futures up 0.61%

-Nasdaq 100 futures up 0.61%

-Nasdaq 100 pre-market indicator up 0.31%


Nikkei up 1.17%

Hang Seng up 0.60%

Shanghai Composite up 2.16%

FTSE-100 up 0.80%

DAX-30 up 0.35%


(+/-) Large cap tech: mixed

(+/-) Chip stocks: mixed

(+) 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: unchanged to higher

(+/-) Retail stocks: mixed

(+) Industrial stocks: unchanged to higher

(+) Airlines: higher

(+) Autos: unchanged to higher


(+) IZEA (+82.8%) Enters deal to acquire TapInfluence

(+) CNTF (+122.4%) To sell Charm Faith Ltd. for $106 million

(+) ZGNX (+19.9%) Dravet syndrome drug meets endpoints in phase 3 study


(-) AVGO (-9.5%) Enters deal to acquire CA Technologies

(-) PRGO (-1.9%) Downgraded by Goldman Sachs to sell from neutral

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

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