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Wall Street Sees Upbeat Start as Markets Reopen After Christmas Break

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US stocks were set for an upbeat open on Wednesday as traders returned from the Christmas holiday break and assessed President Donald Trump's comments he was confident in Treasury Secretary Steven Mnuchin and in the American economy.

Oil prices were mixed with global benchmark Brent crude down 0.02%, while US crude West Texas Intermediate was up 0.78% recently after reaching new lows on worries over the global economy.

Data released at 9 am ET showed a 0.4% growth in the S&P Corelogic Case-Shiller index for October, in line with expectations, following a 0.3% gain in the previous month, according to data compiled by Econoday.

At 10 am, the Richmond Fed manufacturing index is expected to come in unchanged at 14 for December.

In equities, shares of JD.com ( JD ) were 3.1% higher pre-bell after the e-commerce company launched a $1 billion share buyback program.

U.S. PRE-MARKET INDICATORS

-Dow Jones Industrial up 0.74%

-S&P 500 futures up 0.88%

-Nasdaq 100 futures up 1.09%

-Nasdaq 100 pre-market indicator up 0.50%

GLOBAL SENTIMENT

Nikkei up 0.89%

Hang Seng down 0.40%

Shanghai Composite down 0.26%

FTSE-100 Closed for holiday

DAX-30 Closed for holiday

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: unchanged to higher

(+/-) Oil stocks: mixed

(+) Biotech stocks: unchanged to higher

(+/-) Drug stocks: mixed

(+) Financial stocks: higher

(+) Retail stocks: higher

(+) Industrial stocks: unchanged to higher

(+/-) Airlines: mixed

(+) Autos: unchanged to higher

UPSIDE MOVERS

(+) AMZN (+2.3%) Says holiday season sales hit record

(+) SFET (+50.2%) Receives order for software defined access product

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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