Markets

Wall Street in Holding Pattern Ahead of Opening Bell; Earnings, Trade Dispute in Focus

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US stocks were set for a muted open on Monday as traders evaluated a raft of corporate earnings while keeping an eye on fresh developments surrounding the trade dispute between the US and China.

Oil prices nudged higher with global benchmark Brent Crude up 0.90%, and US crude West Texas Intermediate up 1.21% recently following reports that Saudi Arabian crude production unexpectedly fell in July, while the US saw a drop in active drilling rigs.

There are no economic news due for release.

In equities, shares of Can-Fite Biopharma ( CANF ) were 18.8% higher pre-bell after the company entered into a licensing in deal in China for the commercialization of Piclidenoson and Namodenoson.

U.S. PRE-MARKET INDICATORS

-Dow Jones Industrial up 0.02%

-S&P 500 futures up 0.01%

-Nasdaq 100 futures up 0.03%

-Nasdaq 100 pre-market indicator up 0.05%

GLOBAL SENTIMENT

Nikkei down 0.08%

Hang Seng up 0.52%

Shanghai Composite down 1.29%

FTSE-100 down 0.04%

DAX-30 down 0.21%

PRE-MARKET SECTOR WATCH

(+/-) Large cap tech: mixed

(+/-) Chip stocks: mixed

(+) Software stocks: unchanged to higher

(+/-) Hardware stocks: mixed

(+) Internet stocks: unchanged to higher

(+/-) Oil stocks: mixed

(-) Biotech stocks: unchanged to lower

(-) Drug stocks: unchanged to lower

(+/-) Financial stocks: mixed

(+) Retail stocks: unchanged to higher

(-) Industrial stocks: unchanged to lower

(-) Airlines: unchanged to lower

(-) Autos: unchanged to lower

UPSIDE MOVERS

(+) NVCN (+18.7%) Reports results from trial which showed that its Neovasc Reducer device was "very safe" and significantly reduced the severity of angina

(+) ALLT (+3.2%) Upgraded to buy vs hold at Needham

(+) ATRS (+7.7%) Teams up with Pfizer to develop d rug device rescue pen

DOWNSIDE MOVERS

(-) WMLP (-46.2%) Results for quarter ended June 30 decline vs year ago levels

(-) SWKS (-1.3%) To acquire smart interface company Avnera Corp.

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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