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DIS

U.S. Stock Futures Break Free From Crude Oil Declines

U.S. stocks were pointing higher Monday, with practically all sectors in the black even as crude oil futures traded lower again. Most Asian markets closed higher while Europe was also in the black.

West Texas Intermediate Crude was down 1.4% at $34.23 while Brent Crude fell nearly 2% to $36.18.

At 8:30 a.m. E.T. the Chicago Fed national activity index for November is expected to stand at 0.15 compared to a negative 0.04 in October. The consensus range is wide, between a negative 0.20 and a positive 0.25.

While markets are fairly quiet leading up to the Christmas holiday, some important economic data are expected this week. On Tuesday, data are expected to show Q3 GDP grew by 2%, up from 2.1% in Q2. The consensus range is between 1.7% and 2.2% growth.

November existing home sales data are also out Tuesday while new home sales data are out Wednesday, as are personal income and outlays data and the University of Michigan's consumer sentiment indicator.

In equities, American depository shares of Ericsson ( ERIC ) jumped nearly 6% after the communications technology provider reached a global patent license agreement that resolves litigation with Apple ( AAPL ), which was up over 1%. Another bright spot was Walt Disney Co ( DIS ), higher nearly 2% after its Star Wars: The Force Awakens zoomed to the top spot in opening weekend sales with $238 million, according to Box Office Mojo. Jurassic World is number two with $208.8 million.

U.S. PRE-MARKET INDICATORS

-Dow Jones Industrial up 0.70%

-S&P 500 futures up 0.83%

-Nasdaq 100 futures up 0.80%

-Nasdaq 100 pre-market indicator up 0.45%

GLOBAL SENTIMENT

Nikkei down 0.37%

Hang Seng up 0.17%

Shanghai Composite up 1.77%

FTSE-100 up 0.89%

DAX-30 up 0.60%

PRE-MARKET SECTOR WATCH

(+/-) Large cap tech: mixed

(+) Chip stocks: unchanged to higher

(+) Software stocks: unchanged to higher

(+) Hardware stocks: unchanged to higher

(+) Internet stocks: higher

(+) Drug stocks: unchanged to higher

(+) Financial stocks: unchanged to higher

(+/-) Retail stocks: unchanged

(+) Industrial stocks: unchanged to higher

(+/-) Airlines: unchanged

(+) Autos: unchanged to higher

UPSIDE MOVERS

(+) MSFT (+1.1%) Stock could gain 30% over next 18 months: Barron's

(+) CUK (+2.0%), CCL (+2.0%) To switch to 100% cage-free eggs by 2025

(+) SYT (+3.2%) ChemChina sweetens offer for company

(+) AVEO (+16.5%) Strikes licensing deal with EUSA Pharma for renal cancer treatment

(+) CELG (+%) Gets expanded Japan marketing authorization for cancer drug

(+) AUO (+8.1%) Gains on reported tie-in with AAPL

(+) AEGR (+3.2%) Guggenheim upgrades to buy from sell, raises PT to $13 vs $7

DOWNSIDE MOVERS

(-) EMR (-1.3%) Trailing 3-month orders drop 13% on low oil prices , reduced industrial capital spending

(-) SNN (-2.0%) Gives up some gains made Friday on report SYK made offer for co

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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