U.S. stock futures continued to trade defensively with oil lower for a second day but trimmed some of their earlier losses on an above-consensus gain in weekly jobless claims.
Initial claims for the week ended December 26 increased 20,000 to 287,000. This was significantly greater than the 3,000 increase that was expected, but skewed by the Christmas holiday which occurred during the survey week.
Dow futures were last 17 points below fair value and expected to open dangerously close to their 200-day moving average at 17,536.
Next up is the Chicago purchasing managers index (PMI), expected to increase to 50.0 in December from 48.7 the month prior.
-Dow Jones Industrial down 0.45%
-S&P 500 futures down 0.40%
-Nasdaq 100 futures down 0.41%
SENTIMENT
Nikkei Closed
Hang Seng up 0.15%
Shanghai Composite down 0.93%
FTSE-100 down 0.51%
DAX-30 Closed
PRE-MARKET SECTOR WATCH
(-) Large cap tech: Lower
(+/-) Chip stocks: Mixed
(+/-) Software stocks: Flat
(-) Hardware stocks: Lower
(-) Internet stocks: Lower
(-) Drug stocks: Lower
(-) Financial stocks: Lower
(+) Retail stocks: Higher
(-) Industrial stocks: Lower
(-) Airlines: Lower
(+/-) Autos: Flat
UPSIDE MOVERS:
(+) PSTI (+18.18%) FDA granted orphan drug status to PLX-PAD cells
(+) PBMD (+15.32%) Roth initiated coverage with buy rating and $6 price target
(+) CMRX (+4.91%) Steven Cohen's Point 72 disclosed a 5.3% stake
(+) PERI (+2.98%) Raised Q4 forecast
DOWNSIDE MOVERS:
(-) ABGB (-17.42%) Looking to sell Brazilian projects, trying to beat bankruptcy deadline
(-) GM (-0.35%) To face Jan 11 trial on faulty ignition after judge rejects case dismissal
(-) GOOGL (-0.29%) Reportedly to pay $163 million to settle Italian tax probe
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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.
