Wall Street Set for Higher Open Ahead of U.S. Manufacturing Indicators

U.S. stocks were set for a higher open on Monday ahead of the release of key indicators from the U.S. manufacturing sector.

Oil prices were set for another round of gains, after rising seven sessions in a row, on Monday with global benchmark Brent Crude down 0.08%, while U.S. benchmark West Texas Intermediate up 0.02% recently despite rising production from OPEC members.

At 9:45 a.m. ET, data are expected to show the PMI manufacturing index to slide to the 52.2 level in June versus prior level of 52.7, according to data compiled by Econoday.

At 10:00 a.m., the ISM manufacturing index is expected to come in at 55.1 in June vs May's 54.9. Forecasters are calling for a 0.5% gain in construction spending in May.

Federal Reserve President James Bullard is scheduled to give a speech.

In equities, shares of Tesla ( TSLA ) were 2% higher pre-bell after CEO Elon Musk said in a tweet that production of its Model 3 vehicle is scheduled to start on July 7 after securing all regulatory requirements.


-Dow Jones Industrial up 0.54%

-S&P 500 futures up 0.34%

-Nasdaq 100 futures up 0.21%

-Nasdaq 100 pre-market indicator up 0.21%


Nikkei up 0.11%

Hang Seng up 0.08%

Shanghai Composite up 0.11%

FTSE-100 up 0.29%

DAX-30 up 0.58%


(+/-) Large cap tech: mixed

(+) Chip stocks: higher

(+) Software stocks: unchanged to higher

(+/-) Hardware stocks: mixed

(+) Internet stocks: higher

(+/-) Oil stocks: unchanged

(+/-) Biotech stocks: unchanged

(+/-) Drug stocks: unchanged

(+) Financial stocks: unchanged to higher

(+/-) Retail stocks: unchanged

(+/-) Industrial stocks: unchanged

(+/-) Airlines: unchanged

(+/-) Autos: unchanged


(+) SPEX (+21.5%) Closes investment deal with Hoth Therapeutics

(+) EYES (+12.7%) Expands Medicare coverage for Argus II retinal prosthesis system to 11 additional states, and the District of Columbia

(+) RATE (+9%) Agrees to $1.4 billion buyout by Red Ventures


(-) AKS (-0.2%) Agrees to acquire Precision Partners for $360 million

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Copyright (C) 2016 All rights reserved. Unauthorized reproduction is strictly prohibited.

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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