Markets

Wall Street Sees Higher Open Amid Corporate Earnings; Oil Rebounds

U.S. stocks were set to open higher on Thursday amid the release of corporate earnings from several major companies and data on the U.S. economy, such as the weekly jobless claims.

Oil prices rebounded with global benchmark Brent crude up 0.42% recently, and U.S. benchmark West Texas Intermediate up 0.42% after Saudi Arabia signaled that OPEC may extend its production cuts for another three or six months.

Data released at 8:30 a.m. showed new unemployment claims rising to 244,000 in the April 15 week from prior week's 234,000 level and came in higher than the 242,000 level estimate. The Philadelphia Fed came in at 22.0 in April, below the 25.5 level seen by forecasters and compared to prior level of 32.8, according to data compiled by Econoday.

At 10:00 a.m., forecasters see March leading indicators rising 0.2%.

Federal Reserve Governor Jerome Powell is scheduled to give a speech.

In equities, shares of KCG Holdings ( KCG ) were 11.1% higher pre-bell after the company agreed to a $1.4 billion takeover by Virtu Financial ( VIRT ).

U.S. PRE-MARKET INDICATORS

-Dow Jones Industrial up 0.17%

-S&P 500 futures up 0.29%

-Nasdaq 100 futures up 0.38%

-Nasdaq 100 pre-market indicator up 0.38%

GLOBAL SENTIMENT

Nikkei down 0.01%

Hang Seng up 0.97%

Shanghai Composite up 0.04%

FTSE-100 down 0.02%

DAX-30 down 0.01%

PRE-MARKET SECTOR WATCH

(+-) Large cap tech: mixed

(+) Chip stocks: unchanged to higher

(+) Software stocks: unchanged to higher

(+/-) Hardware stocks: mixed

(+) Internet stocks: higher

(+/-) Oil stocks: mixed

(+) Biotech stocks: unchanged to higher

(+/-) Drug stocks: mixed

(+) Financial stocks: higher

(+) Retail stocks: unchanged to higher

(+/-) Industrial stocks: mixed

(+) Airlines: unchanged to higher

(+) Autos: unchanged to higher

UPSIDE MOVERS

(+) IDXG (+10.7%) Eliminates long-term secured debt

(+) CTRV (+20.5%) Reports clinical data highlighting tenofovir exalidex's antiviral activity in hepatitis B patients

(+) CSX (+5.8%) Hikes dividend, tops Q1 estimates

DOWNSIDE MOVERS

(-) WR (-8.4%) Merger with Great Plains reportedly denied by Kansas Corporation Commission

(-) VZ (-1.8%) Misses Q1 estimates

(-) WSR (-8.1%) Initiates public offering of 8.4 million shares

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.

In This Story

VIRT

Other Topics

Stocks