Markets

Correction: Wall Street Slips Into Red Territory as Earnings Season Kicks Off, Fed Speakers on Tap

Various market performance charts

(Correcting to eliminate Nikkei stock market quote in the Global Sentiment section. Japan's Nikkei is closed Monday in celebration of Japan's 'Coming of Age' holiday)

US stock futures were headed south on Monday as earnings season kicks of this week and with a few officers from the Federal Reserve also set to give speeches later in the session.

Oil prices nudged higher with global benchmark Brent crude up 0.30%, and US West Texas Intermediate crude up 0.37% recently as the commodity was lifted by a decline in US rigs drilling for oil, and ongoing Organization of the Petroleum Exporting Countries' production cuts.

At 3 pm, data are expected to show consumer credit rising $18 billion in November compared with the $20.5 billion increase in October, according to data compiled by Econoday.

Federal Reserve presidents Eric Rosengren, Raphael Bostic and John Williams are scheduled to give speeches.

In equities, shares of Axovant Sciences ( AXON ) were 48% lower pre-bell after the company reported results from its phase 2b Headway and pilot phase 2 Gait and Balance studies evaluating intepirdine in multiple neurological disorders, which did not meet primary efficacy endpoints.

U.S. PRE-MARKET INDICATORS

-Dow Jones Industrial down 0.09%

-S&P 500 futures down 0.21%

-Nasdaq 100 futures down 0.22%

GLOBAL SENTIMENT

Hang Seng up 0.28%

Shanghai Composite up 0.52%

FTSE-100 down 0.17%

DAX-30 up 0.28%

PRE-MARKET SECTOR WATCH

(+/-) Large cap tech: mixed

(-) Chip stocks: unchanged to lower

(+) Software stocks: unchanged to higher

(+/-) Hardware stocks: mixed

(+/-) Internet stocks: mixed

(-) Oil stocks: unchanged to lower

(+) Biotech stocks: unchanged to higher

(+/-) Drug stocks: mixed

(+/-) Financial stocks: mixed

(+/-) Retail stocks: mixed

(+/-) Industrial stocks: mixed

(+/-) Airlines: unchanged

(+/-) Autos: mixed

UPSIDE MOVERS

(+) LITB (+44.35%) Now accepts bitcoin payments

(+) NVDA (+2.4%) Working with Volkswagen and Uber to advance artificial intelligence and self-driving technologies for cars

(+) ALDR (+19.69%) Secures $250 million committed equity financing

DOWNSIDE MOVERS

(-) TEUM (-3.9%) Says it expects Q4 revenue to exceed consensus estimate of $3.8 million

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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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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