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Stock Futures Defensive as Investors Contemplate Trump's Protectionist View

Stocks were set to open lower on Monday in sympathy with Japanese and European equity markets as nervous investors react to President Trump's protectionist bias in his inauguration speech last Friday. As a result, safe-haven assets like gold and government bonds are outperforming driving U.S. Treasury yields down by as much as 3 basis points, while the dollar is down nearly 1% against the Japanese yen.

Fourth quarter earnings are also tugging equity prices lower as Wall Street braces for a flood of results this week, including heavyweights Yahoo ( YHOO ), Verizon ( VZ ), Boeing ( BA ) and Alphabet (GOOG, GOOGL). Before the opening bell, Dow component stock McDonalds ( MCD ) beat earnings and revenue expectations but same-store sales in the U.S. disappointed.

In other corporate news, AMC Entertainment ( AMC ) acquired Sweden's Nordic Cinema for $292 million, and Sprint (S) said it is buying one-third of streaming music service Tidal.

There is no economic data scheduled for Monday.

-Dow Jones Industrial futures down 0.12%

-S&P 500 futures down 0.23%

-Nasdaq 100 futures down 0.20%

SENTIMENT

Nikkei down 1.29%

Hang Seng up 0.06%

Shanghai Composite up 0.43%

FTSE-100 down 0.58%

DAX-30 down 0.39%

PRE-MARKET SECTOR WATCH

(+/-) Large cap tech: Lower

(+/-) Chip stocks: Lower

(+/-) Software stocks: Lower

(+/-) Hardware stocks: Mixed

(+/-) Internet stocks: Lower

(+/-) Oil stocks: Lower

(+/-) Biotech stocks: Mixed

(+/-) Drug stocks: Mixed

(+/-) Financial stocks: Lower

(+/-) Retail stocks: Mixed

(+/-) Industrial stocks: Lower

(+/-) Airlines: Lower

(+/-) Autos: Higher

UPSIDE MOVERS:

(+) MRNS (+21.55%) Reported positive preliminary data from treatment for children with CDKL5 genetic disorder

(+) CYNO (+8.88%) Bloomberg reports the company is considering strategic options, including a sale

(+) NQ (+7.32%) Agreed to sell FL Mobile and Showself, and $100 million investment

DOWNSIDE MOVERS:

(-) KRNT (-8.73%) Announced 7 million share offering

(-) QCOM (-4.58%) Being sued by Apple (AAPL) over patent royalties

(-) HAL (-1.33%) Missed Q4 revenue estimates, beat on earnings

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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