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ANF

Wall Street Pulls Back After Major Rally

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%

GLOBAL SENTIMENT

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

UPSIDE MOVERS

(+) 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

DOWNSIDE MOVERS

(-) 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

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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