Wall Street Set to Open Lower Monday as Investors Await Major Tech Earnings

MT Newswires Live02-02 22:15

US stocks look set to open lower in Monday's trading session as US equity investors await big tech earnings and nonfarm payrolls later this week, as geopolitical tensions rise and the US seeks to strike a possible nuclear deal with Iran.

Palantir Technologies (PLTR) and NXP Semiconductors (NXPI) will post their earnings after the markets close Monday, with Alphabet (GOOGL), Amazon (AMZN), and Advanced Micro Devices (AMD) due to release their financial statements this week.

The Dow Jones Industrial Average futures were off 0.1%, S&P 500 futures were down 0.4%, and Nasdaq futures were moving 0.7% lower.

Oil prices fell sharply Monday after US President Trump said Iran was "seriously talking," and Tehran's top security official Ali Larijani said arrangements for negotiations were underway, Reuters reported Monday.

Front-month global benchmark Brent crude was down 4.6% to $66.12 a barrel, and West Texas Intermediate crude fell 4.9% to $62.03 a barrel.

In other world markets, Japan's Nikkei fell 1.3%, Hong Kong's Hang Seng dropped 2.2%, and China's Shanghai Composite lost 2.5%. Meanwhile in Europe's early afternoon session, the UK's FTSE 100, Germany's DAX, and France's CAC were up 0.8% each.

In equities, shares of German internet browser company Opera (OPRA) gained 11% pre-bell after it said Monday that it expects Q4 revenue to exceed its previously issued guidance. Shares of Unity Software (U) rose 8% after shedding more than 24% on Friday. Columbia Financial (CLBK) shares were up 7% after it reported Monday that Q4 earnings swung to a profit from a loss a year earlier.

On the losing side, shares of Pharming (PHAR) lost 17% after it said Sunday that the US Food and Drug Administration raised concerns about its supplemental marketing application for Joenja to treat activated phosphoinositide 3-kinase delta syndrome. The drugmaker said the FDA flagged issues about potential underexposure in lower-weight children. Shares of SharpLink Gaming (SBET) fell 11%, adding to a 5% loss on Friday. And Bitmine Immersion Technologies' (BMNR) stock dropped 10% after Bitcoin sold off sharply over the weekend.

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