Pre-open movers
U.S. stock futures traded lower in early pre-market trade after the Nasdaq jumped more than 200 points in the previous session. Investors are awaiting earnings results from Tyson Foods, Inc. (NYSE:TSN), Zimmer Biomet Holdings, Inc. (NYSE:ZBH), Amgen Inc. (NASDAQ:AMGN) and Hasbro, Inc. (NASDAQ:HAS).
Data on consumer credit for December will be released at 3:00 p.m. ET. Consumer credit is projected to rise $21.0 billion in December versus $39.9 billion in the previous month.
Futures for the Dow Jones Industrial Average fell 103 points to 34,875.00 while the Standard & Poor’s 500 index futures fell 10.50 points to 4,482.00. Futures for the Nasdaq index fell 28.50 points to 14,657.00.
The U.S. has the highest number of COVID-19 cases and deaths in the world, with total infections in the country exceeding 78,017,400 with around 926,020 deaths. India reported a total of at least 42,272,010 confirmed cases, while Brazil confirmed over 26,536,590 cases.
Oil prices traded lower as Brent crude futures fell 1.2% to trade at $92.16 per barrel, while US WTI crude futures fell 1.7% to trade at $90.74 a barrel. The total number of active U.S. oil rigs gained by 2 to 497 rigs in the latest week, Baker Hughes Inc reported Friday.
A Peek Into Global Markets
European markets were mixed today. The STOXX Europe 600 Index gained 0.1%, while Spain’s IBEX 35 Index fell 0.6% and London’s FTSE 100 rose 0.2%. The French CAC 40 Index rose 0.1%, while German DAX gained 0.2%. The Halifax house price index in the UK increased 9.7% year-over-year in January, while industrial production in Germany fell 0.3% month-over-month in December.
Asian markets traded mixed today. Japan’s Nikkei fell 0.7%, while Hong Kong’s Hang Seng Index gained 0.03% and China’s Shanghai Composite Index gained 2%. Australia’s S&P/ASX 200 fell 0.1%, while India’s BSE SENSEX dropped 1.7%. The index of leading economic indicators in Japan rose to 104.3 in December from a revised final reading of 103.9 a month ago, while index of coincident economic indicators in Japan fell to 92.6 in December from a final 92.8. The Caixin China General Services PMI declined to 51.4 in January from 53.1 in the prior month. Retail sales in Australia dropped 4.4% month-on-month in December.
Broker Recommendation
Needham maintained Seagen Inc. (NASDAQ:SGEN) with a Buy and lowered the price target from $254 to $200.
Seagen shares rose 2.1% to close at $137.93 on Friday.
Breaking News
Elon Musk owned Tesla Inc (NASDAQ:TSLA) has recently launched its updated Supercharger map.
Century Aluminum Company (NASDAQ:CENX) said Craig Conti will be leaving the company. Michelle Harrison, the Company’s Senior Vice President, Finance and Treasurer will assume responsibilities during the company’s search for replacement.
Apple, Inc. (NASDAQ:AAPL) first hardware launch event may come sooner than many would have thought, if reports are to be believed.
Sifco Industries (NYSE:SIF) reported a Q1 loss of $0.64 per share, versus a year-ago profit of 0.51 per share.
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