Markets

Wall Street Wavers Ahead of Opening Bell as Markets Focus on Bond Yields

An image of a person looking at a financial report
Credit: Shutterstock photo

US stocks were set for a muted open on Wednesday as markets continue to eye developments in the US bond market ahead of a key 10-year note auction later in the session.

Oil prices nudged lower with global benchmark Brent Crude down 0.33%, and US crude West Texas Intermediate down 0.33% recently after the International Monetary Fund lowered its global growth forecasts for 2018 and 2019.

Data released at 8:30 am showed a 0.2% increase, as expected, in the producer price headline for September versus a 0.1% decline in the previous month, according to data compiled by Econoday.

At 10 am, wholesale inventories are seen rising 0.8% in August versus the prior month's 0.6% gain.

In equities, shares of Neovasc ( NVCN ) were 62.7% higher pre-bell as its "Reducer" product received a breakthrough device designation from the Food and Drug Administration.

U.S. PRE-MARKET INDICATORS

-Dow Jones Industrial down 0.32%

-S&P 500 futures down 0.39%

-Nasdaq 100 futures down 0.62%

GLOBAL SENTIMENT

Nikkei up 0.16%

Hang Seng up 0.08%

Shanghai Composite up 0.18%

FTSE-100 down 0.21%

DAX-30 down 0.81%

PRE-MARKET SECTOR WATCH

(-) Large cap tech: unchanged to lower

(-) Chip stocks: lower

(-) Software stocks: lower

(-) Hardware stocks: unchanged to lower

(-) Internet stocks: lower

(+/-) Oil stocks: mixed

(+/-) Biotech stocks: unchanged

(+/-) Drug stocks: mixed

(+/-) Financial stocks: mixed

(+) Retail stocks: higher

(+/-) Industrial stocks: mixed

(+) Airlines: unchanged to higher

(+) Autos: unchanged to higher

UPSIDE MOVERS

(+) NIO (+10%) Scottish fund manager Baillie Gifford buys 85 million shares in Co.

(+) AKRX (+8.4%) Gets FDA clearance for Bimatoprost eye solution

(+) CAG (+2%) Prices stock offering at nearly 1% discount

DOWNSIDE MOVERS

(-) STNG (-10.4%) Prices $300 million stock offering

(-) SHLD (-26.5%) Reports say company may file for bankruptcy

(-) FAST (-5.1%) Tops Q3 estimates

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. 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.

In This Story

NVCN

Other Topics

Stocks