Wall Street Set for 6-Day Winning Streak in Line with Broader Market
US stocks were poised for a sixth consecutive round of gains as equities were lifted by positive sentiment on both domestic and international markets.
Oil prices nudged higher with global benchmark Brent crude up 0.53%, and US West Texas Intermediate crude up 0.11% recently as the commodity was buoyed by a weaker greenback.
Data released at 8:30 am showed a strong snap back in housing starts for January to a 1.326 million annualized rate as compared to the 1.232 million seen by forecasters and the 1.192 million in December. Import and export prices rose 1% and 0.8%, respectively, as compared to estimates for gains of 0.6% and 0.3%; and previous month's gain of 0.1% and a decline of 0.1%, according to data compiled by Econoday.
At 10 am, the consumer sentiment index is expected to come in at 95.5 for the February preliminary as compared to prior level of 95.7.
In equities, shares of Apricus Biosciences ( APRI ) were 73.7% lower after the company said the US Food and Drug Administration cannot approve its new drug application for Vitaros topical cream for the treatment of erectile dysfunction in its current form.
U.S. PRE-MARKET INDICATORS
-Dow Jones Industrial up 0.20%
-S&P 500 futures up 0.22%
-Nasdaq 100 futures up 0.31%
Nikkei up 1.19%
Hang Seng up 1.97%
Shanghai Composite up 0.45%
FTSE-100 up 0.67%
DAX-30 up 0.60%
PRE-MARKET SECTOR WATCH
(+/-) Large cap tech: mixed
(+/-) Chip stocks: mixed
(+/-) Software stocks: mixed
(+/-) Hardware stocks: mixed
(+/-) Internet stocks: mixed
(-) Oil stocks: unchanged to lower
(+/-) Biotech stocks: mixed
(+/-) Drug stocks: mixed
(-) Financial stocks: unchanged to lower
(+) Retail stocks: unchanged to higher
(+) Industrial stocks: unchanged to higher
(+) Airlines: unchanged to higher
(+/-) Autos: mixed
(+) SNCR (+30.5%) Closes sale of $185 million of preferred equity
(+) KO (+2.4%) Tops Q4 estimates
(+) VII (+46.7%) To provide statewide surveillance network for Sinaloa, Mexico
(-) MBRX (-17.1%) Prices registered direct offering of $9 million of securities
(-) CPB (-3.1%) Posts fiscal Q2 results beat
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