Wall Street Tips Lower Ahead of Opening Bell as Recession Worries Kick In

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US stocks were set for a lower open Monday as risk-aversion seeped into markets on fears of slowing global growth after the so-called yield curve inverted for the first time in more than a decade, stoking fears of a possible US recession.

Oil prices nudged lower with global benchmark Brent crude down 0.34%, while US West Texas Intermediate crude futures were down 0.5% recently on the back of signs of a slowing global economy.

Data released at 8:30 am showed the Chicago Fed National Activity Index came in at minus 0.29, against a plus 0.10 expected, for February following a minus 0.43 in the previous month, according to data compiled by Econoday.

At 10:30 am, forecasters see the Dallas Fed general activity index coming in at 10.0 for March against 13.1 in February.

In equities, shares of The9 Limited ( NCTY ) were 88.7% higher pre-bell after the internet company entered into a joint venture with Faraday Future that will manufacture and sell electric cars in China.


-Dow Jones Industrial down 0.11%

-S&P 500 futures down 0.13%

-Nasdaq 100 futures down 0.22%

-Nasdaq 100 pre-market indicator down 0.11%


Nikkei down 3.01%

Hang Seng down 2.03%

Shanghai Composite down 1.97%

FTSE-100 down 0.54%

DAX-30 down 0.12%


(+/-) Large cap tech: mixed

(-) Chip stocks: lower

(-) Software stocks: lower

(+/-) Hardware stocks: mixed

(-) Internet stocks: lower

(+/-) Oil stocks: mixed

(+) Biotech stocks: unchanged to higher

(+/-) Drug stocks: mixed

(+/-) Financial stocks: mixed

(+/-) Retail stocks: mixed

(+/) Industrial stocks: unchanged to higher

(+/-) Airlines: mixed

(+/-) Autos: mixed


(+) CYCC (+25.3%) Reports positive results from Paloma-3 study which shows cyclin E as a biomarker of resident of estrogen receptor positive, Her-2 negative breast cancer to palbociclib regimens

(+) AVYA (+31.7%) Mulls leveraged buyout deal from private equity firm, report says

(+) YRD (+5.1%) Enters realignment deal with controlling shareholder


(-) PTI (-50%) Reports results from phase 1 trial of cystic fibrosis transmembrane conductance regulator modulators

(-) TSLA (-2.1%) Industry data shows registrations of new Tesla vehicles dropped month-over-month in February

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: NCTY

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