US stocks were set for a cautiously higher open on Thursday amid another batch of corporate earnings and a string of readings on the US economy. Traders were also monitoring the latest developments surrounding the trade spat between the US and China.
Oil prices were mixed, following a steep decline from the previous session, with global benchmark Brent crude up 0.07%, while US crude West Texas Intermediate was down 0.18% recently after the first round of US sanctions against Iran came into effect.
Data released at 8:30 am showed new unemployment claims came in 213,000 in the Aug. 11 week vs 218,000 in the prior week and estimates for 220,000. The producers price index-final demand came in unchanged for July vs estimates for a 0.3% rise, according to data compiled by Econoday.
At 10 am, wholesale inventories are expected to come in unchanged in June.
In equities, Rite Aid ( RAD ) was 7.5% lower pre-bell after the company abandoned its merger deal with grocery store chain Albertsons.
U.S. PRE-MARKET INDICATORS
-Dow Jones Industrial up 0.09%
-S&P 500 futures up 0.11%
-Nasdaq 100 futures up 0.08%
Nikkei down 0.20%
Hang Seng up 0.88%
Shanghai Composite up 1.83%
FTSE-100 down 0.67%
DAX-30 up 0.22%
PRE-MARKET SECTOR WATCH
(+/-) Large cap tech: mixed
(+/-) Chip stocks: mixed
(-) Software stocks: mixed
(+/-) Hardware stocks: mixed
(+) Internet stocks: higher
(+/-) Oil stocks: mixed
(+) Biotech stocks: unchanged to higher
(+/-) Drug stocks: mixed
(+/-) Financial stocks: mixed
(+/-) Retail stocks: mixed
(-) Industrial stocks: unchanged to lower
(+/-) Airlines: unchanged
(+/-) Autos: mixed
(+) OVAS (+2.1%) To merge with Millendo Therapeutics
(+) ROKU (+10.3%) Tops Q2 epxectations
(+) SESN (+13%) Secures FDA Fast Track approval of lead candidate Vicinium
(-) EAF (-6%) Prices secondary stock offering at $20 per share
(-) BKNG (-7.3%) Q2 results top views
(-) NTES (-6.1%) Posts Q2 earnings beat, revenue miss
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