Markets

Wall Street Heads South Along with Dollar as Markets React to Trump's Immigration Ban

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U.S. stocks were set for a lower open on Monday, along with a weakening dollar, as markets reacted to U.S. President Donald Trump's new immigration ban, which fueled protests across the country.

Oil prices slipped on Monday with global benchmark Brent crude down 0.23% recently and U.S. benchmark West Texas Intermediate down 0.08% following reports of growing production in the US which could partially offset the effect of a deal by major producers to cut output.

Data released at 8:30 a.m. showed personal income rose 0.3% in December following a flat November and compared to the 0.4% gain seen by forecasters. Both consumer spending and the PCE price index rose in line with estimates at 0.5% and 0.2%, respectively, according to data compiled by Econoday.

At 10:00 a.m., forecasters see pending home sales index bouncing in December at a rate of 0.6%.

In equities, Ixia ( XXIA ) shares were 5.8% higher pre-bell after the company agreed on a $1.6 billion buyout by Keysight ( KEYS ).

U.S. PRE-MARKET INDICATORS

-Dow Jones Industrial down 0.33%

-S&P 500 futures down 0.39%

-Nasdaq 100 futures down 0.41%

-Nasdaq 100 pre-market indicator down 0.31%

GLOBAL SENTIMENT

Nikkei down 0.51%

Hang Seng down 0.06%

Shanghai Composite up 0.31%

FTSE-100 down 0.78%

DAX-30 down 0.77%

PRE-MARKET SECTOR WATCH

(-) Large cap tech: unchanged to lower

(-) Chip stocks: lower

(-) Software stocks: unchanged to lower

(-) Hardware stocks: unchanged to lower

(-) Internet stocks: lower

(-) Oil stocks: lower

(-) Biotech stocks: unchanged to lower

(+/-) Drug stocks: mixed

(-) Financial stocks: lower

(+/-) Retail stocks: mixed

(+/-) Industrial stocks: unchanged to lower

(-) Airlines: unchanged to lower

(-) Autos: unchanged to lower

UPSIDE MOVERS

(+) CALA (+28.1%) Enters into collaboration with Incyte

(+) FGEN (+9%) Reports positive top-line data for anemia drug in phase 3 trial

(+) QURE (+11.5) FDA grants breakthrough therapy status for hemophilia b drug AMT-060

DOWNSIDE MOVERS

(-) TPX (-24.9%) Supply deal with Mattress Firm terminated

(-) RGLS (-24.4%) FDA clinical hold to remain on RG-101

(-) RAD (-12.7%) Amends, extends merger agreement with Walgreens Boots Alliance

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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