Markets

Wall Street Sees Muted Open Amid Raft of Earnings, Trump-Automakers Meeting Eyed

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%

GLOBAL SENTIMENT

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

UPSIDE MOVERS

(+) 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

DOWNSIDE MOVERS

(-) 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

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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