Markets

Wall Street Sees Cautiously Higher Open After Fed Move

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US stocks were set to open moderately higher Thursday as markets showed signs of recovery in the wake of the Federal Reserve decision in the previous session.

Oil prices posted sizable losses with global benchmark Brent crude down 2.7%, while US West Texas Intermediate crude was down 2.7% recently on worries about oversupply and slowing economic growth.

Data released at 8:30 am showed new unemployment claims rose 8,000 to 214,000 for the Dec. 15 week versus the 220,000 level seen by forecasters. The Philadelphia Fed's general business conditions index came in at 9.4 in December versus 16.5 estimates and the previous level of 12.9, according to data compiled by Econoday.

At 10 am, forecasters see no change in the index of leading economic indicators for November as compared with a marginal 0.1% increase in October.

In equities, shares of Agenus Inc. ( AGEN ) were 50% higher pre-bell after the biopharmaceutical company entered into an immuno-oncology partnership with Gilead Sciences ( GILD ).

U.S. PRE-MARKET INDICATORS

-Dow Jones Industrial up 0.10%

-S&P 500 futures up 0.11%

-Nasdaq 100 futures up 0.19%

GLOBAL SENTIMENT

Nikkei down 2.84%

Hang Seng down 0.94%

Shanghai Composite down 0.52%

FTSE-100 down 0.39%

DAX-30 down 1.1%

PRE-MARKET SECTOR WATCH

(+/-) Large cap tech: lower (BASE ON THE ONES IN TECH BELOW)

(+) Chip stocks: unchanged to higher

(+/-) Software stocks: mixed

(+/-) Hardware stocks: mixed

(+/-) Internet stocks: mixed

(+/-) Oil stocks: mixed

(+) Biotech stocks: unchanged to higher

(+/-) Drug stocks: mixed

(+/-) Financial stocks: mixed

(+/-) Retail stocks: mixed

(+/-) Industrial stocks: mixed

(+) Airlines: unchanged to higher

(+/-) Autos: mixed

UPSIDE MOVERS

(+) TLRY (+10.9%) Teams up with Anheuser-Busch InBev to research cannabis-infused drinks

(+) BB (+6.7%) Tops Q3 estimates

(+) ERJ (+2.2%) Gets firm order from Republic Airways for 100 E175 jets

DOWNSIDE MOVERS

(-) DBVT (-58.9%) Withdraws FDA application for Viaskin peanut

(-) FB (-1%) Denies it provided partners with wide access to social network users' personal data

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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