US stocks were set for a downbeat session Thursday as markets took a breather following a major rally in the previous session after Federal Reserve Chair Jerome Powell eased worries about monetary tightening.
Oil prices nudged higher with global benchmark Brent crude up 1.24%, and US West Texas Intermediate crude up 2% recently despite persistent concerns about oversupply.
Data released at 8:30 am showed new unemployment claims jumped 10,000, vs estimates for a 4,000 decline, to 234,000 in the Nov. 24 week. Personal income, consumer spending and the PCE price index rose 0.5%, 0.6%, and 0.2%, respectively, in October vs estimates for gains of 0.4%, 0.4%, and 0.2%, according to data compiled by Econoday.
At 10 am, pending home sales are expected to remain unchanged in October after a 0.5% rise in the previous month.
In equities, shares of Abercrombie & Fitch ( ANF ) were trading 19.1% higher pre-bell after it reported Q3 profit that topped Street expectations.
U.S. PRE-MARKET INDICATORS
-Dow Jones Industrial down 0.03%
-S&P 500 futures down 0.17%
-Nasdaq 100 futures down 0.34%
-Nasdaq 100 pre-market indicator down 0.14%
Nikkei up 0.39%
Hang Seng down 0.87%
Shanghai Composite down 1.32%
FTSE-100 up 0.68%
DAX-30 up 0.45%
PRE-MARKET SECTOR WATCH
(-) Large cap tech: unchanged to lower
(-) Chip stocks: unchanged to lower
(-) Software stocks: unchanged to lower
(-) Hardware stocks: unchanged to lower
(-) Internet stocks: unchanged to lower
(+/-) Oil stocks: mixed
(+/-) Biotech stocks: unchanged
(-) Drug stocks: unchanged to lower
(+/-) Financial stocks: unchanged
(-) Retail stocks: unchanged to lower
(-) Industrial stocks: unchanged to lower
(-) Airlines: unchanged to lower
(-) Autos: unchanged to lower
(+) TNXP (+65.1%) Reports details of new phase 3 study of Tonmya for PTSD
(+) NLSN (+5.4%) Horizon Media adopts Nielsen digital content ratings
(+) RSLS (+9%) Secures $25 million financing
(-) DB (-3.5%) Co.'s HQ raided as part of Panama paper probe
(-) CPRX (-2.9%) FDA approves Firdapse for the treatment of Lambert-Eaton Myasthenic Syndrome
(-) ATO (-3.8%) Prices stock offering at $92.75
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