Markets

Wall Street Sees Lower Open Ahead of Holiday Weekend

U.S. stocks were set for a lower open on Friday as traders took a breather in a light day for economic data, and ahead of a long holiday weekend.

Oil prices eased with global benchmark Brent Crude down 0.54% recently, and U.S. benchmark West Texas Intermediate down 0.51% after official data showed U.S. crude stockpile grew by 9.5 million barrels last week, which overshadowed a potential extension of OPEC's deal to curb production.

At 10:00 a.m., data are expected to show leading economic indicators rising 0.4% in January compared to December's 0.5% gain.

Federal Reserve President Loretta Mester is scheduled to give a speech in Singapore.

In equities, shares of Top Ships ( TOPS ) were 46% higher pre-bell after the company reported improved financial results for 2016.

U.S. PRE-MARKET INDICATORS

-Dow Jones Industrial down 0.36%

-S&P 500 futures down 0.36%

-Nasdaq 100 futures down 0.23%

-Nasdaq 100 pre-market indicator down 0.17%

GLOBAL SENTIMENT

Nikkei down 0.58%

Hang Seng down 0.31%

Shanghai Composite down 0.85%

FTSE-100 up 0.14%

DAX-30 down 0.46%

PRE-MARKET SECTOR WATCH

(+/-) Large cap tech: mixed

(+/-) Chip stocks: unchanged

(-) Software stocks: unchanged to lower

(-) Hardware stocks: unchanged to lower

(+/-) Internet stocks: mixed

(-) Oil stocks: unchanged to lower

(+/-) Biotech stocks: mixed

(+/-) Drug stocks: mixed

(-) Financial stocks: unchanged to lower

(-) Retail stocks: unchanged to lower

(-) Industrial stocks: unchanged to lower

(+/-) Airlines: unchanged

(-) Autos: unchanged to lower

UPSIDE MOVERS

(+) RGSE (+20%) Completes offerings, regains Nasdaq listing compliance

(+) LMIA (+49.6%) Agrees to $14/share buyout offer, cuts 2016 guidance

(+) AZN (+1.6%) Meets primary endpoint in phase 3 trial of Lynparza in BRCA-mutated metastatic breast cancer

DOWNSIDE MOVERS

(-) AAPL (-0.3%) Said to start assembling iPhone SE in India

(-) GIS (-4%) Cuts 2017 outlook

(-) TSLA (-1.9%) Bloomberg says United Auto Workers sends organizers to help employees at Tesla's Fremont, California plant to unionize

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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