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Wall Street in Upbeat Momentum; US CPI Rises 0.2% in August

US stocks were set for an upbeat open Thursday after key readings on US inflation and jobless claims, while investors geared up for news on the political front.

Oil prices nudged lower with global benchmark Brent crude down 0.83%, and US West Texas Intermediate crude down 1.18% recently, amid concerns that emerging market crises and trade disputes could dent demand.

Data released at 8:30 am showed a steady gain of 0.2% in the consumer price index for August versus the 0.3% gain expected and a 0.2% increase in July. New unemployment claims came in at 204,000 in the Sept. 8 week as compared with the 210,000 estimate and 205,000 (revised up from 203,000) in the prior week, according to data compiled by Econoday.

In equities, shares of Kroger Co. ( KR ) were down more than 8% pre-bell as the supermarket operator posted fiscal Q2 adjusted earnings that topped Street estimates, while revenue missed.

U.S. PRE-MARKET INDICATORS

-Dow Jones Industrial up 0.44%

-S&P 500 futures up 0.35%

-Nasdaq 100 futures up 0.57%

-Nasdaq 100 pre-market indicator up 0.44%

GLOBAL SENTIMENT

Nikkei up 0.96%

Hang Seng up 2.54%

Shanghai Composite up 1.15%

FTSE-100 down 0.05%

DAX-30 up 0.6%

PRE-MARKET SECTOR WATCH

(+/-) Large cap tech: mixed

(+) Chip stocks: higher

(+) Software stocks: higher

(+) Hardware stocks: unchanged to higher

(+/-) Internet stocks: mixed

(+/-) Oil stocks: mixed

(+/-) Biotech stocks: mixed

(+/-) Drug stocks: mixed

(+) Financial stocks: higher

(+/-) Retail stocks: mixed

(+) Industrial stocks: unchanged to higher

(+) Airlines: higher

(+/-) Autos: mixed

UPSIDE MOVERS

(+) BBVA (+3.3%) To cut 1,000 jobs in Mexico, report says

(+) IFF (+1.8%) Prices equity offerings

(+) TLRY (+9%) Receives approval to export medical cannabis flower to Germany

DOWNSIDE MOVERS

(-) PVTL (-26.7%) Reports Q2 loss

(-) FRED (-18.1%) Posts narrower Q2 loss, revenue declines

(-) INPX (-17.1%) Enters deal with NuVision to implement indoor positioning analytics for tradeshows

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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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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