US stocks were set for a downbeat session Tuesday amid the release of a string of economic data.
Oil prices nudged higher with global benchmark Brent crude up 0.86%, and US West Texas Intermediate crude up 0.93% recently as tensions on the Israeli-Gaza border continued to feed oil-flow concerns in the region.
Data released at 8:30 am showed retail sales rose a moderate 0.3% as expected in April vs the prior month's revised reading of an 0.8% gain. The Empire State general business conditions index came in at 20.1 in May vs April's 15.8 and expectations for 15.5, according to data compiled by Econoday.
At 8:55 am, data showed Redbook store sales rose 4.9% for the May 12 week vs the prior week's increase of 4.2%.
At 10 am, forecasters see a modest 0.2% rise in business inventories for March vs the prior reading of a 0.6% increase. The consensus calls for no change in the housing market index at 69 for May.
In equities, shares of SORL Auto Parts ( SORL ) were trading 14.5% higher pre-bell after the company reported year-over-year increases in its Q1 financial results.
U.S. PRE-MARKET INDICATORS
-Dow Jones Industrial down 0.52%
-S&P 500 futures down 0.42%
-Nasdaq 100 futures down 0.68%
-Nasdaq 100 pre-market indicator down 0.38%
Nikkei down 0.21%
Hang Seng down 1.23%
Shanghai Composite up 0.57%
FTSE-100 down 0.96%
DAX-30 up 0.34%
PRE-MARKET SECTOR WATCH
(-) Large cap tech: unchanged to lower
(-) Chip stocks: unchanged to lower
(-) Software stocks: lower
(-) Hardware stocks: unchanged to lower
(-) Internet stocks: lower
(+/-) Oil stocks: mixed
(-) Biotech stocks: unchanged lower
(-) Drug stocks: unchanged to lower
(-) Financial stocks: lower
(+/-) Retail stocks: mixed
(+/-) Industrial stocks: mixed
(-) Airlines: unchanged to lower
(+/-) Autos: mixed
(+) MSCC (+1.3%) Microchip gets antitrust clearance in China, Japan, Philippines, Germany and Austria for acquisition of Microsemi
(+) INO (+10.6%) HIV vaccine sustains durable memory responses one year after start of clinical trial
(+) CLWT (+47.8%) 2017 profit rises, revenue declines year-over-year
(-) VIPS (-15.2%) Q1 earnings shy of estimates
(-) HD (-2.3%) Q1 earnings top estimates, misses on revenue
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