Wall Street Set for Narrowly Higher Open Amid Corporate Earnings, Jobless Claims Fall

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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.


-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%


(+/-) 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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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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