U.S. stocks were set for a cautiously higher open on Monday as earnings season started ramping down and ahead of key readings on the U.S. economy.
Oil prices nudged lower with global benchmark Brent Crude down 1.05% and U.S. benchmark West Texas Intermediate down 1.11% recently ahead of a two-day OPEC gathering in Abu Dhabi to discuss members' compliance with agreed output cuts.
At 10:00 a.m. ET, data are expected to show the labor market conditions index rising in July to a solid 2.0 vs 1.5 in June, according to data compiled by Econoday.
At 3:00 p.m., forecasters see consumer credit rising $16 billion in June.
Federal Reserve Presidents James Bullard and Neel Kashkari are scheduled to give speeches.
In equities, shares of Zynerba Pharmaceuticals ( ZYNE ) were 55.5% lower pre-bell after the company reported results from its phase 2 epilepsy trial of ZYN002, which did not demonstrate a statistically significant reduction of focal seizures.
U.S. PRE-MARKET INDICATORS
-Dow Jones Industrial up 0.10%
-S&P 500 futures up 0.05%
-Nasdaq 100 futures up 0.12%
-Nasdaq 100 pre-market indicator up 0.15%
Nikkei up 0.52%
Hang Seng up 0.46%
Shanghai Composite up 0.53%
FTSE-100 up 0.18%
DAX-30 down 0.41%
PRE-MARKET SECTOR WATCH
(+) Large cap tech: unchanged to higher
(+) Chip stocks: unchanged to higher
(+/-) Software stocks: unchanged
(+) Hardware stocks: unchanged to higher
(+) Internet stocks: unchanged to higher
(+/-) Oil stocks: unchanged
(+/-) Biotech stocks: unchanged
(+/-) Drug stocks: unchanged
(+/-) Financial stocks: unchanged
(+) Retail stocks: unchanged to higher
(+/-) Industrial stocks: unchanged
(+) Airlines: unchanged to higher
(-) Autos: unchanged to lower
(+) NXTM +27.4% Agrees to be acquired by Fresenius Medical Care for $30/share
(+) HZNP +14.2% Posts Q2 results beat
(+) COL +6.7% United Technologies reportedly mulls over acquisition of Rockwell Collins
(-) MYL -4.3% Receives tentative approval for TLD under PEPFAR
(-) TEVA -3% Gets FDA approval for QVAR RediHaler inhalation aerosol
(-) CLSN -3.9% To delist from Tel Aviv Stock Exchange
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