U.S. stocks were set for a quiet open on Tuesday amid a raft of earnings reports, with traders also keeping an eye on a meeting between President Donald Trump and the big three automakers.
Oil prices nudged higher on Tuesday with global benchmark Brent Crude up 0.09% recently, and U.S. benchmark West Texas Intermediate up 0.15% on news of lower OPEC production, but the gains were kept in check by reports of more drilling activity in the United States.
At 10:00 a.m., data are expected to show existing home sales falling 1.1% to 5.55 million rate in December, according to data compiled by Econoday.
In equities, shares of Alibaba Group ( BABA ) were 3.8% higher pre-bell after the Chinese e-commerce firm reported Q4 results that topped Street estimates.
U.S. PRE-MARKET INDICATORS
-Dow Jones Industrial down 0.01%
-S&P 500 futures up 0.01%
-Nasdaq 100 futures up 0.08%
-Nasdaq 100 pre-market indicator down 0.36%
Nikkei down 0.55%
Hang Seng up 0.22%
Shanghai Composite up 0.18%
FTSE-100 up 0.11%
DAX-30 up 0.13%
PRE-MARKET SECTOR WATCH
(+/-) Large cap tech: mixed
(+) Chip stocks: unchanged to higher
(+) Software stocks: unchanged to higher
(-) Hardware stocks: unchanged to lower
(+) Internet stocks: unchanged to higher
(+/-) Oil stocks: mixed
(+) Biotech stocks: unchanged to higher
(-) Drug stocks: unchanged to lower
(+) Financial stocks: higher
(-) Retail stocks: unchanged to lower
(-) Industrial stocks: unchanged to lower
(+) Airlines: unchanged to higher
(+/-) Autos: mixed
(+) YHOO (+1.5%) Q4 results top Street estimates
(+) MPSX (+3.5%) Agrees to $18/share buyout by WestRock
(+) WAT (+2.7%) Posts Q4 results beat
(-) VZ (-1.5%) Q4 profit misses Street estimate, revenues just higher
(-) BT (-4.7%) Raises write-down related to accounting practices in Italy to $663 million vs. previously $181 million
(-) GLOP (-1.9%) Prices unit offering at $20.50 per unit
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