CVS

Wall Street Sees Cautiously Lower Open Amid Corporate Earnings

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US stocks were set for a cautiously lower open on Wednesday amid a raft of corporate earnings, including from retail pharmacy giant CVS Health ( CVS ), while on the economic data front it is a quiet session.

Oil prices nudged lower with global benchmark Brent crude down 0.78%, and US crude West Texas Intermediate down 1.27% recently ahead of a weekly reading on US stockpiles.

There are no economic data due for release.

In equities, shares of Best Inc. ( BSTI ) were 13.4% lower pre-bell after the company reported a Q2 loss in line with Street view, while revenue fell short of expectations. It also guided Q3 and full-year sales below forecasts.

U.S. PRE-MARKET INDICATORS

-Dow Jones Industrial down 0.05%

-S&P 500 futures down 0.10%

-Nasdaq 100 futures down 0.22%

-Nasdaq 100 pre-market indicator down 0.18%

GLOBAL SENTIMENT

Nikkei down 0.08%

Hang Seng up 0.39%

Shanghai Composite down 1.27%

FTSE-100 up 0.67%

DAX-30 up 0.03%

PRE-MARKET SECTOR WATCH

(+/-) Large cap tech: mixed

(+/-) Chip stocks: mixed

(+) Software stocks: higher

(+/-) Hardware stocks: mixed

(+) Internet stocks: higher

(-) Oil stocks: unchanged to lower

(+/-) Biotech stocks: mixed

(+/-) Drug stocks: mixed

(+) Financial stocks: higher

(+/-) Retail stocks: mixed

(-) Industrial stocks: unchanged to lower

(-) Airlines: unchanged to lower

(+/-) Autos: mixed

UPSIDE MOVERS

(+) SBBP (+33.3%) Narrows Q2 loss, revenue rises YoY

(+) MTCH (+16.3%) Tops Q2 estimates

(+) WB (+4.6%) Q2 profit tops Street mark, shy on revenue

DOWNSIDE MOVERS

(-) RSLS (-78.7%) Files blank shelf registration statement

(-) TRTX (-3.3%) Prices underwritten public offering of 7 million shares

(-) KREF (-4.4%) Prices $100 million publc offering of common stock

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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