Solidly Higher Stock Open Lies Ahead With Help From Commodities, Tech, Financials - AIG (AIG) Rallied
U.S. PRE-MARKET INDICATORS
-Dow Industrial futures up 60 points.
-S&P 500 futures up 6 points.
-Nasdaq 100 futures up 11 points.
-Nasdaq-100 Pre-Market Indicator up 6.73 at 1738.31.
GLOBAL SENTIMENT
Nikkei down 0.7%
Hang Seng up 0.9%
FTSE-100 up 0.9%
PRE-MARKET SECTOR WATCH
(+) Large cap tech: firmer
(+) Chip stocks: firmer
(+,-) Small cap stocks: mixed
(+) Drug stocks: mostly higher
(+) Software stocks: firmer
(+) Internet stocks: firmer
(+) Financial stocks: mostly firmer
(-,+) Auto stocks: mixed
(-,+) Airline stocks: mixed
(+,-) Retail stocks: mixed
UPSIDE MOVERS
(+) M (+5.4%) gets analyst upgrade.
(+) HPQ (+1.9%) gets analyst upgrade.
(+) FDS (+4.2%) meets with Q4 results, guides above Street.
(+) AMAT (+2.2%) inks multi-year service contract with ENN Solar Energy.
(+) OCLR (+16.7%) raises outlook.
(+) BSDM (+42%) reports cancer study results that used its hyperthermia system.
(+) DNDN (+1.7%) started with new analyst coverage.
(+) CRXX (+16.7%) says FDA to review Neuromed's drug on Sept. 23.
(+) DSTI (+18.3%) gets bridge financing.
(+) NKTR (+4.4%) presents favorable data for ovarian cancer investigational drug.
(+) CCL, CUK (+5%) added to BofA/Merrill Europe 1 preferred list.
(+) KMX (+6.9%) reports improved Q2 earnings.
(+) AIG (+12.3%) continues upside move amid hopes for eased government help.
(+) CAG (+0.5%) beats with Q1 EPS.
DOWNSIDE MOVERS
(-) AMR (-4.4%) continues evening decline after announcing stock, debt issuance.
(-) LOW (-1.4%) offers 2009, 2010 outlook update that's in line to below Street view.
MARKET DIRECTION
Stock futures continue to rise in pre-market trading, indicating a
firmer open at today's bell. The dollar has resumed its decline,
sending gold, oil and other commodities higher and partly responsible
for expected stock market gains. Financial and tech shares are upside
volume leaders.
The Federal Reserve begins a two-day interest rate meeting but an
announcement isn't expected until Wednesday afternoon. Housing price
data for July will be issued at 10 a.m. The Treasury will sell $45
billion in 2-year notes.
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