US stocks were poised for another round of gains on Monday, in a light day on both earnings and economic data fronts, echoing similar gains in the European markets.
Oil markets rebounded after a week of volatility and selling with global benchmark Brent crude up 1.47% and US West Texas Intermediate crude up 1.79% recently as the commodity found support on a weaker greenback and rising tension in the Middle East.
At 2 pm, data are expected to show a sizable deficit in the Treasury budget for January of $51 billion as compared with the previous level of $23.2 billion, according to data compiled by Econoday.
In equities, shares of ContraVir ( CTRV ) were 36% higher pre-bell after the company agreed with the US Food and Drug Administration on faster path to approval for TXL for chronic hepatitis B.
U.S. PRE-MARKET INDICATORS
-Dow Jones Industrial up 1.22%
-S&P 500 futures up 1.16%
-Nasdaq 100 futures up 1.08%
-Nasdaq 100 pre-market indicator up 1.06%
Nikkei closed for holiday
Hang Seng down 0.03%
Shanghai Composite up 0.78%
FTSE-100 up 1.26%
DAX-30 up 1.49%
PRE-MARKET SECTOR WATCH
(+) Large cap tech: unchanged to higher
(+) Chip stocks: unchanged to higher
(+) Software stocks: unchanged to higher
(+) Hardware stocks: unchanged to higher
(+) Internet stocks: higher
(+) Oil stocks: unchanged to higher
(+) Biotech stocks: unchanged to higher
(+) Drug stocks: unchanged to higher
(+) Financial stocks: unchanged to higher
(+) Retail stocks: unchanged to higher
(+/-) Industrial stocks: mixed
(+) Airlines: unchanged to higher
(+) Autos: unchanged to higher
(+) TEVA (+1.6%) Launches QVAR RediHaler inflation aerosol in US
(+) QCOM (+2.2%) Sees antitrust issues, potential customer losses in Broadcom deal
(+) SDRL (+12.7%) Report says co. may conclude talks on restructuring plan with creditors this week
(-) AXON (-21.5%) CEO, COO and several directors resign
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