SK Hynix and Oil Churn Wall Street Pre-Bell; Asia, Europe Up

MT Newswires Live07-10 19:11

Wall Street futures pointed mixed and muted pre-bell Friday, as traders awaited South Korean chipmaker SK Hynix's US market debut, a $26.5 billion listing of American depositary shares on the Nasdaq, and billed as world's second-largest share sale ever, after SpaceX's (SPCX) recent IPO.

In geopolitical news, renewed Persian Gulf hostilities have persisted into pre-bell hours, with media reports that oil-tanker traffic has again stalled around the Strait of Hormuz.

West Texas Intermediate crude oil traded up 0.3% at $72.26 before the market open.

In the futures, the S&P 500 was steady, the Nasdaq declined 0.3% and the Dow Jones was up 0.2%.

Asian exchanges traded mostly higher overnight, while European bourses edged north midday on the continent.

On the economic calendar is the weekly Baker Hughes domestic oil-and-gas rig count at 1pm ET.

In pre-market action, Bitcoin traded at $64,424, and 10-year US Treasuries offered 4.53%. Spot gold commanded $4,116 an ounce.

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