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.
U.S. PRE-MARKET INDICATORS
-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%
PRE-MARKET SECTOR WATCH
(+/-) 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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