Wall Street Sees Narrowly Mixed Open as Traders Continue to Monitor Middle East Risks

Tuesday, January 7, 2020 9:10 AM | MT Newswires

US stocks were set for a narrowly mixed open Tuesday as traders continued to monitor the growing geopolitical tensions in the Middle East following the killing of Iran's key military commander.

Both Dow and S&P futures inched 0.03% lower, while Nasdaq futures gained 0.2%.

Oil prices fell, with global benchmark Brent crude down 0.8%, and US West Texas Intermediate down 0.7% recently, following two sessions of solid gains brought by concerns of potential supply disruptions in the Middle East.

Data released at 8:30 am showed US trade deficit narrowed to $43.1 billion in November from $47.2 billion in October and compared with expectations for a $43.9 billion deficit, according to Econoday.

At 10 am, factory orders are seen falling 0.7% for November, compared with the 0.3% uptick in the previous month. The non-manufacturing index based on the Institute for Supply Management survey is expected to come in at 54.5 for December vs November's 53.9.

In equities, shares of Cellect Biotechnology (APOP) soared 150% pre-bell after the company said it received notice from patent regulators in Europe and Israel of their intention to grant the company's patent applications.

U.S. PRE-MARKET INDICATORS

-Dow Jones Industrial down 0.03%

-S&P 500 futures down 0.03%

-Nasdaq 100 futures up 0.2%

GLOBAL SENTIMENT

Nikkei up 1.6%

Hang Seng up 0.3%

Shanghai Composite up 0.7%

FTSE-100 up 0.07%

DAX-30 up 0.8%

PRE-MARKET SECTOR WATCH

(+/-) Large cap tech: mixed

(+/-) Chip stocks: mixed

(-) Software stocks: unchanged to lower

(+/-) Hardware stocks: mixed

(+/-) Internet stocks: mixed

(-) Oil stocks: lower

(=) Biotech stocks: unchanged

(+/-) Drug stocks: mixed

(+/-) Financial stocks: mixed

(+/-) Retail stocks: mixed

(+/-) Industrial stocks: mixed

(+) Airlines: unchanged to higher

(+) Autos: unchanged to higher

+/

UPSIDE MOVERS

(+) ADXS (+36.4%) Gets FDA clearance for IND for prostate cancer treatment

(+) APLS (+48.1%) Reports positive top-line results from phase 3 trial of pegcetacoplan

(+) TYME (+26.6%) Forms strategic collaboration with Eagle Pharmaceuticals to advance oral sm-88 for cancer

(+) APA (+16.6%) JV with Total reports 'significant' oil discovery in offshore Suriname

DOWNSIDE MOVERS

(-) ARE (-3%) Prices sale of 6 million shares at discount

(-) INPX (-7.4%) Co.'s indoor mapping platform selected by Chilean shopping mall

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