Stocks

Wall Street Sees Upbeat Open as Earnings Season Ramps Up With Results From Major Banks

US stocks were set for an upbeat open Friday as traders digested earnings from major US banks, which signaled the start of the earnings season.

Oil prices nudged higher with global benchmark Brent crude up 1.28%, and US crude West Texas Intermediate up 1.62% recently after comments on tightening supply from the International Energy Agency.

Data released at 8:30 am ET showed import and export prices rose 0.6% and 0.7%, respectively, in March as compared to estimates for increases of 0.4% and 0.3%, according to data compiled by Econoday.

At 10 am, forecasters see the preliminary April reading on Consumer Sentiment Index based on the University of Michigan survey coming in at 98.0 as compared to March's 98.4 level.

In equities, shares of Anadarko Petroleum (APC) were 29.9% higher pre-bell after the oil company agreed to be acquired by Chevron (CVX) in a cash-and-stock deal valued at $33 billion. Disney (DIS) was also up about 7% and on track to hit a record high after the company presented its streaming services late Thursday.

U.S. PRE-MARKET INDICATORS

-Dow Jones Industrial 0.93%

-S&P 500 futures up 0.68%

-Nasdaq 100 futures up 0.59%

-Nasdaq 100 pre-market indicator up 0.29%

GLOBAL SENTIMENT

Nikkei up 0.73%

Hang Seng up 0.24%

Shanghai Composite down 0.04%

FTSE-100 up 0.31%

DAX-30 up 0.71%

PRE-MARKET SECTOR WATCH

(+) Large cap tech: unchanged to higher

(+) Chip stocks: higher

(+) Software stocks: higher

(+) Hardware stocks: unchanged to higher

(+) Internet stocks: higher

(+/-) Oil stocks: mixed

(+) Biotech stocks: unchanged to higher

(+) Drug stocks: unchanged to higher

(+) Financial stocks: higher

(+) Retail stocks: unchanged to higher

(+) Industrial stocks: unchanged to higher

(+/-) Airlines: mixed

(+) Autos: unchanged to higher

UPSIDE MOVERS

(+) TRNX (+29.6%) Generates record revenues of $9.7 million in 2018

(+) QD (+9.7%) To buy back 18 million Kunlun Group-held shares

(+) KMPH (+10.1%) Says it's confident moving forward KP415 for hyperactivity disorder after FDA meeting

DOWNSIDE MOVERS

(-) CVX (-4.4%) Agrees to buy Anadarko (APC) for $33 billion

(-) BLIN (-10%) Files shelf registration for secondary offering of 383.5 million shares by selling stockholders

(-) AMRS (-22.2%) Restates FY18 results, enters credit pact

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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