Futures Strengthen as Oil Snaps Back

U.S. stock futures were higher into Wednesday's open in concert with a rebound in oil, as well as dovish comment from NY Fed President William Dudley who cautioned that the FOMC might have to reconsider further rate hikes as the global economy suffers.

Today's economic data included an above consensus gain in private payrolls of 205,000 according to a monthly survey by ADP. This beats the estimated 190,000.

The remaining data includes the January PMI services sector index, and a similar index from the Institute for Supply Management.

-Dow Jones Industrial up 0.38%

-S&P 500 futures up 0.43%

-Nasdaq 100 futures up 0.24%

SENTIMENT

Nikkei down 3.15%

Hang Seng down 2.34%

Shanghai Composite down 0.35%

FTSE-100 down 0.35%

DAX-30 down 0.60%

PRE-MARKET SECTOR WATCH

(+) Large cap tech: Higher

(+) Chip stocks: Higher

(+) Software stocks: Higher

(+) Hardware stocks: Higher

(+/-) Internet stocks: Mixed

(-) Drug stocks: Lower

(+) Financial stocks: Higher

(+) Retail stocks: Higher

(+) Industrial stocks: Higher

(+) Airlines: Higher

(+) Autos: Higher

UPSIDE MOVERS:

(+) CNAT (+20.00%) FDA granted fast-track designation for Emricasan

(+) OCLR (+8.17%) Reported stronger-than-expected quarterly results

(+) CMCSA (+2.40%) Revenue beat estimates, raised dividend 10% and announced $5 billion stock buyback

DOWNSIDE MOVERS:

(-) HNSN (-7.41%) Returning Tuesday's gain

(-) NOV (-6.10%) Reported weaker-than-expected Q4 result

(-) CMG (-5.49%) Revenue missed estimates

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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