Markets

US Stocks Set For Higher Open as Oil Gains; Manufacturing Data on Tap

U.S. stocks were set to open modestly higher Tuesday as weak manufacturing data overseas spurred hopes for stimulus, lifting oil prices , and as investors also waited for domestic manufacturing data. European markets were also in the black and Asian markets closed up.

In the U.S., the PMI Manufacturing index for February, out at 9:45 a.m. E.T., is expected to show a slight drop to 51.3 from 52.4 in January, in the consensus range between 51.0 and 51.7, according to data compiled by Econoday.

At 10:00 a.m., the ISM Manufacturing index for February is seen edging up to 48.5 from 48.2 in January. The consensus range is between 47.2 and 49.5. Meanwhile, data on construction spending is expected to show a 0.5% increase for January compared to the 0.1% growth seen in December. The consensus range is between a 0.2% decline and a 0.8% increase.

In equities, SunEdison ( SUNE ) extended pre-market losses and were down over 24% after hedge fund Appaloosa LP said it is seeking an expedited trial against the firm relating to a take/pay arrangement between SunEdison's TerraForm Power ( TERP ) and Vivint Solar ( VSLR ).

U.S. PRE-MARKET INDICATORS

-Dow Jones Industrial up 0.57%

-S&P 500 futures up 0.62%

-Nasdaq 100 futures up 0.56%

-Nasdaq 100 pre-market indicator up 0.46%

GLOBAL SENTIMENT

Nikkei up 0.37%

Hang Seng up 1.55%

Shanghai Composite up 1.68%

FTSE-100 up 0.51%

DAX-30 up 1.29%

PRE-MARKET SECTOR WATCH

(+) Large cap tech: unchanged to higher

(+) Chip stocks: unchanged to higher

(+) Software stocks: unchanged to higher

(+) Hardware stocks: unchanged to higher

(+) Internet stocks: higher

(+/-) Oil stocks: mixed

(+/-) Biotech: unchanged

(+/-) Drug stocks: mixed

(+) Financial stocks: unchanged to higher

(+/-) Retail stocks: mixed

(+) Industrial stocks: unchanged to higher

(+/-) Airlines: unchanged

(+) Autos: unchanged to higher

UPSIDE MOVERS

(+) JD (+3.3%) Q4 sales exceed views

(+) JKS (+3.1%) Outshines Q4 Street views

(+) RIO (+4.4%) RBC Capital upgrades to sector perform vs underperform

(+) FCAU (+4.1%) US February sales rise 12%

(+) EXEL (+15.4%) Q4 results beat views

(+) WDAY (+4.2%) Reports Q4 beat, sees Q1 sales below Street view

DOWNSIDE MOVERS

(-) MRO (-5.1%) To sell 135 million shares in public offering

(-) BCS (-7.2%) Confirms will sell its 62% stake in Barclays Africa over 2-3 years

(-) DLTR (-4.0%) Q4 misses views, provides mixed guidance

(-) PTCT (-1.6%) Q4 net loss widens, revenue misses

(-) RMTI (-34.4%) Q4 results miss expectations

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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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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