US stocks were set for an upbeat open Tuesday as markets recover after the tech-heavy Nasdaq Composite index closed nearly 2% lower on Monday on concerns that tech companies were being targeted by US antitrust regulators.
Oil prices nudged lower with global benchmark Brent crude down 0.82% and US crude West Texas Intermediate down 0.39% amid the dimming outlook on the world economy brought by the prolonged trade war between the world’s two largest economies.
At 10 am, data are expected to show factory orders easing 0.8% for April following a 1.9% gain the previous month, according to data compiled by Econoday.
In equities, shares of Tiffany (TIF) were lower pre-bell after the luxury jeweler reported Q1 revenue shy of Street estimates, while profit topped expectations.
U.S. PRE-MARKET INDICATORS
-Dow Jones Industrial up 0.37%
-S&P 500 futures up 0.38%
-Nasdaq 100 futures up 0.36%
-Nasdaq 100 pre-market indicator up 0.62%
Nikkei down 0.01%
Hang Seng down 0.46%
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.
Shanghai Composite down 0.96%
FTSE-100 up 0.43%
DAX-30 up 1.35%
PRE-MARKET SECTOR WATCH
(+) Large cap tech: unchanged to higher
(+) Chip stocks: higher
(+) Software stocks: higher
(+) Hardware stocks: unchanged to higher
(+) Internet stocks: higher
(+) Oil stocks: unchanged to higher
(+) Biotech stocks: unchanged to higher
(+/-) Drug stocks: mixed
(+) Financial stocks: higher
(+/-) Retail stocks: mixed
(+) Industrial stocks: unchanged to higher
(+) Airlines: higher
(+) Autos: unchanged to higher
(+) CTRM (+128.3%) Widens fiscal H1 loss, revenue rises YoY
(+) ATNM (+22.9%) Achieves lower circulating leukemia tumor burden prior to bone marrow transplant in phase 3 trial of Iomab-B
(+) UBER (+2.1%) Under IRS probe that may cut co.’s unrecognized tax benefits
(-) BOX (-16.7%) Q1 results top expectations
(-) VTR (-2.7%) Prices stock offering at $62.75/share