Markets

Stock Futures Cautious in Record Territory

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Stocks were set to open slightly lower Thursday as five consecutive days of record highs encourages caution across Wall Street, luring investors into the Treasury market and driving yields down for the first time in six days.

Economic data ahead of the open failed to generate a response despite an all-time high in the Philadelphia Fed business outlook index of 43.3, and much smaller-than-expected increase in initial jobless claims.

First-time unemployment claims increased by 5,000 for the week ended Feb 11 versus expectations for a gain of 12,000.

Housing market data for January was mixed as housing starts fell 2.6% to a seasonally-adjusted annual rate (SAAR) of 1.246 million, but permits were up 4.6% to a SAAR of 1.285 million.

Oil futures are modestly higher, reversing Wednesday's loss as production cuts from the Organization of the Petroleum Exporting Countries offsets recent inventory gains. According to sources cited by Reuters, OPEC production cuts could be extended if all producers show "effective cooperation." As a result, Brent crude and West Texas intermediate crude oil futures are higher by 0.40%.

-Dow Jones Industrial down 0.16%

-S&P 500 futures down 0.19%

-Nasdaq 100 futures down 0.07%

SENTIMENT

Nikkei down 0.47%

Hang Seng up 0.47%

Shanghai Composite up 0.51%

FTSE-100 down 0.36%

DAX-30 down 0.32%

PRE-MARKET SECTOR WATCH

(+/-) Large cap tech: Lower

(+/-) Chip stocks: Mixed

(+/-) Software stocks: Mixed

(+/-) Hardware stocks: Lower

(+/-) Internet stocks: Mixed

(+/-) Oil stocks: Higher

(+/-) Biotech stocks: Lower

(+/-) Drug stocks: Mixed

(+/-) Financial stocks: Lower

(+/-) Retail stocks: Lower

(+/-) Industrial stocks: Higher

(+/-) Airlines: Higher

(+/-) Autos: Mixed

UPSIDE MOVERS:

(+) SCON (+39.13%) Awarded a patent for unique manufacturing process

(+) HGG (+9.33%) Exploring strategic alternatives

(+) BLDP (+4.57%) Announced 5-year, $25 million deal with Broad Ocean for fuel cell engine manufacture and sales in China

DOWNSIDE MOVERS:

(-) CFMS (-37.43%) Reported a wider-than-expected Q4 loss

(-) BBW (-20.49%) Reported Q4 sales and earnings below expectations

(-) GNC (-14.66%) Q4 Reported worse-than-expected declines in Q4 profit and sales

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.


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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