US stock futures were pointing north on Wednesday as oil once again took the spotlight following President Donald Trump's announcement of the country's withdrawal from a 2015 nuclear deal with Iran.
Oil prices climbed with global benchmark Brent crude up 2.3%, and US West Texas Intermediate crude up 2.4% recently after Trump signed a memorandum that would begin reinstating sanctions on the Iranian regime.
Data released at 8:30 am showed the producer price index final demand headline for April at a 0.1% rise vs expectations for a 0.3% gain, according to data compiled by Econoday.
At 10 am, wholesale trade inventories are expected to rise a sizable 0.5% in March following a strong 1% build in the previous month.
Federal Reserve Bank of Atlanta President Raphael Bostic is scheduled to speak.
In equities, shares of TripAdvisor ( TRIP ) were 19.9% higher pre-bell after the company reported Q1 financial results that topped Street estimates.
U.S. PRE-MARKET INDICATORS
-Dow Jones Industrial up 0.39%
-S&P 500 futures up 0.32%
-Nasdaq 100 futures up 0.23%
-Nasdaq 100 pre-market indicator up 0.18%
GLOBAL SENTIMENT
Nikkei down 0.44%
Hang Seng up 0.44%
Shanghai Composite down 0.07%
FTSE-100 up 0.47%
DAX-30 down 0.03%
PRE-MARKET SECTOR WATCH
(+/-) Large cap tech: mixed
(+/-) Chip stocks: mixed
(+) Software stocks: unchanged to higher
(+/-) Hardware stocks: mixed
(+) Internet stocks: higher
(+) Oil stocks: higher
(+) Biotech stocks: unchanged to higher
(+/-) Drug stocks: mixed
(+/-) Financial stocks: mixed
(-) Retail stocks: unchanged to lower
(+) Industrial stocks: unchanged to higher
(-) Airlines: lower
(+/-) Autos: mixed
UPSIDE MOVERS
(+) PPL (+1.6%) Prices stock offering at $27 per share
(+) TRXC (+18.6%) Q1 results improve from year-ago levels
(+) BUD (+3.2%) Posts mixed Q1 results vs Street
DOWNSIDE MOVERS
(-) WMT (-4.5%) To invest in Flipkart Group
(-) WB (-3.8%) Q1 results top estimates
(-) MNST (-7.2%) Q1 earnings miss Street view, sales top views
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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.
