U.S. stocks were pointing to another higher open on Thursday, setting the market up for a four-day winning streak as investors continued to evaluate and turned bullish on the potential effects of a Donald Trump presidency on businesses.
Oil prices flipped lower on Thursday with global benchmark Brent Crude down 0.47% recently and U.S. benchmark West Texas Intermediate down 1.02% after the International Energy Agency reported record production from members of the Organization of Petroleum Exporting Countries--putting a lid on recovery from an initial shock at Trump's surprise victory.
Data released at 8:30 a.m. showed initial jobless claims for the Nov. 5 week falling to 254,000 from prior level of 265,000, versus forecasters estimate for the week of 263,000, according to data compiled by Econoday.
Federal Reserve president James Bullard is scheduled to give a speech in St. Louis, Missouri.
In equities, MannKind ( MNKD ) shares were 30.5% higher in pre-market after the company said late Wednesday that it has terminated its promissory note and security agreement with an affiliate of Sanofi ( SNY ).
U.S. PRE-MARKET INDICATORS
-Dow Jones Industrial up 0.58%
-S&P 500 futures up 0.54%
-Nasdaq 100 futures up 0.63%
-Nasdaq 100 pre-market indicator up 0.50%
Nikkei up 6.72%
Hang Seng up 1.89%
Shanghai Composite up 1.37%
FTSE-100 down 0.20%
DAX-30 up 0.41%
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: mixed
(+) Oil stocks: higher
(+) Biotech stocks: higher
(+/-) Drug stocks: mixed
(+) Financial stocks: higher
(+) Retail stocks: unchanged to higher
(+) Industrial stocks: unchanged to higher
(+/-) Airlines: unchanged
(+/-) Autos: mixed
(+) HLT (+1.3%) Initiates secondary offering of 55 million common shares
(+) TWTR (+1.7%) Adam Bain steps down as chief operating officer
(+) SLCA (+3.4%) Prices public offering of 9 million shares of common stock for totalgross proceeds of $412.3 million.
(-) ANTH (-15.5%) Phase 3 trial of systemic lupus erythematosus treatment fails to meet endpoint
(-) AZN (-1.6%) Q3 profit tops Street estimate, revenues miss
(-) NTES (-3.8%) Posts mixed Q3 results
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