Wall Street in Holding Pattern Amid Earnings, Data; ECB Keeps Rates Unchanged

U.S. stock futures were little changed ahead of Thursday’s open as traders evaluated a raft of earnings releases and economic data, and as the European Central Bank kept interest rates unchanged.

Oil prices nudged higher with global benchmark Brent crude up 0.68%, and U.S. benchmark West Texas Intermediate up 0.64% recently after official data showed a larger-than-expected draw in U.S. crude inventories.

Data released at 8:30 a.m. showed unemployment claims of 233,000 in the July 7 week vs. 247,000 in the prior week and estimate for 246,000. Philadelphia Fed general business conditions index came in at 19.5 vs prior reading of 27.6 and estimate of 22.0, according to data compiled by Econoday.

At 10:00 a.m., forecasters see the index of leading economic indicators rising 0.4% in June.

In equities, shares of BiondVax ( BVXV ) were 12.9% higher pre-bell after its mid-stage study of flu vaccine showed positive results.

U.S. PRE-MARKET INDICATORS

-Dow Jones Industrial up 0.01%

-S&P 500 futures up 0.03%

-Nasdaq 100 futures up 0.05%

-Nasdaq 100 pre-market indicator up 0.16%

GLOBAL SENTIMENT

Nikkei up 0.62%

Hang Seng up 0.26%

Shanghai Composite up 0.43%

FTSE-100 up 0.87%

DAX-30 up 0.96%

PRE-MARKET SECTOR WATCH

(+/-) Large cap tech: mixed

(+/-) Chip stocks: mixed

(+) Software stocks: unchanged to higher

(+) Hardware stocks: unchanged to higher

(+) Internet stocks: unchanged to higher

(+) Oil stocks: unchanged to higher

(+) Biotech stocks: unchanged to higher

(+) Drug stocks: unchanged to higher

(+/-) Financial stocks: mixed

(+/-) Retail stocks: mixed

(+) Industrial stocks: unchanged to higher

(+) Airlines: unchanged to higher

(+/-) Autos: mixed

UPSIDE MOVERS

(+) SNY (+2) Licenses nanobody product candidates from Belgium-based Ablynx

(+) TEUM (+30.2%) Secures two new U.K.-based customers

(+) TMUS (+3.7%) Tops Q2 estimates

DOWNSIDE MOVERS

(-) INO (-3.4%) Prices sale of shares at 11.5% discount

(-) WES (-5%) Hikes Q2 distribution by 7%

(-) ABB (-3.4%) Misses Q2 estimates


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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