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US Futures Barely Higher Ahead of Manufacturing Data Seen Gaining Slightly

U.S. stock futures were only barely higher Monday amid record levels and ahead of manufacturing data later this morning.

At 09:45 a.m. ET. the Purchasing Managers' Manufacturing index for May is expected to be up at 56.2 compared to 55.4 in April, according to data collected by Econoday.

At 10:00 a.m., the composite Institute for Supply Management's manufacturing survey index for May is expected to be higher at 55.5 from 54.9 in April. Also, data on construction spending is expected to show a 0.7% increase in April over the 0.2% growth in March.

In equities, Broadcom ( BRCM ) was higher by nearly 15% in recent pre-market trade after saying it plans to sell or wind down its cellular baseband unit, cutting annual expenses by about $600 million. NPS Pharmaceuticals ( NPSP ) was another big gainer, up over 20% after the Financial Times last week reported that U.K. drugmaker Shire may ( SHPG ) try to buy it for $4 billion. SHPG was up nearly 1%.

U.S. PRE-MARKET INDICATORS

-Dow Jones Industrial up 0.12%

-S&P 500 futures up 0.06%

-Nasdaq 100 futures up 0.05%

-Nasdaq-100 Pre-Market Indicator up 0.14%

GLOBAL SENTIMENT

Nikkei up 2.07%

Hang Seng up 0.31%

Shanghai Composite up 0.06%

FTSE-100 up 0.28%

DAX-30 up 0.14%

PRE-MARKET SECTOR WATCH

(+/-) Large cap tech: mixed

(+) Chip stocks: higher

(+) Software stocks: higher

(+/-) Hardware stocks: mixed

(+/-) Internet stocks: mixed

(+/-) Drug stocks: mixed

(+) Financial stocks: unchanged to higher

(+) Retail stocks: unchanged to higher

(+/-) Industrial stocks: mixed

(+) Airlines: unchanged to higher

(-) Autos: unchanged to lower

UPSIDE MOVERS

(+) ARIA (+15.6%) Details several positive study results

(+) HCT (+11.1%) Ventas ( VTR ) buys co for $2.6 billion

(+) CONN (+11.5%) Fiscal Q1 earnings, sales top views

(+) OMER (+6.9%) FDA OKs Omidria for cataract, intraocular lens replacement surgery

(+) IMUC (+11.9%) Presents data on ICT-107 in glioblastoma multiforme patients

(+) AHL (+2.6%) Endurance ups bid for co to $49.50 vs $47.50

(+) PCYC (+6.8%) Gains on leukemia treatment study

(+) AVEO (+5.4%) Progress in solid tumor treatment

(+) GDP (+6.9%) Higher on production data from well in Amite County

DOWNSIDE MOVERS

(-) Z (-3.6%) RBC downgrades to sector perform vs outperform

(-) CYTK (-7.8%) Tirasemtiv in ALS fails to meet primary endpoint

(-) NOV (-9.0%) Chairman Miller resigns to take role in spinoff NOW

(-) PBYI (-10.9%) PB272 results for breast cancer metastasized to the brain

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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