Stocks Look to Start Under Water - China-U.S. Trade Spat Lifts Dollar, Pressures Commodities
U.S. PRE-MARKET INDICATORS
-Dow Industrial futures up 2 points.
-S&P 500 futures flat.
-Nasdaq 100 futures up 2 points.
-Nasdaq-100 Pre-Market Indicator up 2.24 at 1688.4.
GLOBAL SENTIMENT
Nikkei down 2.3%
Hang Seng down 1.1%
FTSE-100 down 0.6%
PRE-MARKET SECTOR WATCH
(-,+) Large cap tech: mixed
(-) Chip stocks: lower
(+,-) Small cap stocks: mixed
(+) Drug stocks: mostly firmer
(+,-) Software stocks: mixed
(-) Internet stocks: lower
(-,+) Financial stocks: mixed
(-) Auto stocks: lower
(-,+) Airline stocks: mixed
(+) Retail stocks: mixed
DOWNSIDE MOVERS
(-) POT (-2.2%) gets analyst downgrade.
(-) MOS (-3%) gets analyst downgrade.
(-) GNBT (-2.6%) announces stock offering.
(-) ALXA (-31%) says migraine trial does not meet primary endpoint.
(-) ELN (-0.5%) lower as WSJ reports J&J (JNJ) may have to cut deal price.
(-) CVX (1.1%) says Gorgon gas field JV will go ahead.
UPSIDE MOVERS
(+) S (+21%) subject of article suggesting Deutsche Telekom secures banker for bid.
(+) ETFC (+8.4%) gets analyst upgrade.
(+) THC (+7.7%) raises outlook.
(+) CRNT (+7.2%), HSTX (+8.5%) get plug from Jim Cramer as speculative play.
(+) SLXP (+52.6%) reports statistically significant results for primary, secondary endpoints for Rifaximin.
(+) THRX (+4.4%) gets FDA approval for VIBATIV.
(+) ARIA (+16.8%) reports positive late trial data in mestastic sarcomas.
(+) SGP (-1%) says final results of SAPHIS Schizophrenia trial show much longer time to relapse than placebo.
MARKET DIRECTION
U.S. stock futures are lower in Monday's pre-market trading.
Broader-market stock trade looks to face carry-over selling pressure
from Friday and as global stocks drop.
Wall Street's mood was soured by the anniversary of the Lehman
Bros. bankruptcy and shaken by a potential trade war with China.
Washington imposed stiff tariffs on Chinese-made tires over the
weekend. China said it would launch an anti-dumping investigation into
U.S. sales of chicken and auto products, according to several news
outlets.
Stocks slipped Friday but that only shaved a sliver from weekly
gains.
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