Strong Upside Expected at Stock Open
U.S. PRE-MARKET INDICATORS
-Dow Industrial futures up 89 points.
-S&P 500 futures up 9 points.
-Nasdaq 100 futures up 15 points.
-Nasdaq-100 Pre-Market Indicator up 12.48 at 1743.24.
GLOBAL SENTIMENT
Nikkei up 0.2%
Hang Seng up 1.7%
FTSE-100 up 1.7%
PRE-MARKET SECTOR WATCH
(+) Large cap tech: firmer
(+) Chip stocks: firmer
(+,-) Drug stocks: mixed
(+) Software stocks: mostly firmer
(+) Internet stocks: mixed
(+) Financial stocks: firmer
(+,-) Auto stocks: mixed
(-,+) Airline stocks: mixed
(+) Retail stocks: mixed
UPSIDE MOVERS
(+) GE (+2.6%) report says co. agrees to $30 bln value on Comcast JV.
(+) EWBC (+53.7%) buying banking operations of United Commercial Bank.
(+) FUQI (+9.7%) results top year-ago period.
(+) ARIA (+13%) upgraded to Overweight at JP Morgan.
(+) CGEN (+18.1%) reports discovery of genetic biomarker related to diabetes.
(+) NOC (+4%) sells TASC for $1.65 bln.
(+) CMED (flat) gets SFDA approval for leukemia fusion gene detection FISH probe.
(+) CBY (+1%), KFT (+0.5%) Cadbury rejects new Kraft offer.
(+) ANF (+5.1%) gets upgrade.
(+) ADBE (+4.2%) gets upgrade.
DOWNSIDE MOVERS
(-) RSH (-0.2%) gives up early gain; gets upgrade.
(-) DISH (+6.3%) results decline vs year-ago quarter.
(-) TEC (-74%) files for Ch. 11.
(-) RPRX (-25%) reports wider loss, gets going concern notice.
MARKET DIRECTION
Stock futures continue to point to a solidly higher open as the
broader market looks to extend last week's advance and overnight gains
abroad. Financial and commodity-linked shares are early gainers,
helping to set the tone for the broader market.
Crude futures are up $0.80 at $78.23 a barrel, moving on a weaker
dollar and on concerns that a weakened Hurricane Ida could still impact
production in the northern Gulf Coast. Oil is off its earlier highs.
Gold is up $14.90 at $1,109.30 an ounce. Another push lower for the
dollar allowed gold to carve out new highs. Weekend G-20 meetings
offered little commmentary on currency levels.
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