Wall Street Wavers as Jam-Packed Week of Earnings, Data Starts

US stocks were struggling for a direction ahead of Monday’s opening bell as traders braced for another heavy week of corporate earnings and economic data.

Oil prices nudged lower with global benchmark Brent crude down 0.26%, and US West Texas Intermediate crude off 0.32%, extending Friday’s sell-off after President Donald Trump said he asked the Organization of the Petroleum Exporting Countries to lower the prices of the commodity.

Data released at 8:30 am showed personal income, consumer spending and the PCE price index rose 0.1%, 0.9% and 0.2%, respectively, for the month of March against estimates for increases of 0.4%, 0.7%, and 0.3%, according to data compiled by Econoday.

At 10:30 am, the April headline for the general activity index based on the Dallas Fed manufacturing survey is expected to come in at 9.8 following March’s 8.3.

In equities, shares of Innovate Biopharmaceuticals (INNT) were 21.6% higher pre-bell after the biotechnology company said Larazotide demonstrated improvements in validated non-alcoholic steatohepatitis biomarkers and endpoints in pre-clinical trial.

U.S. PRE-MARKET INDICATORS

-Dow Jones Industrial up 0.03%

-S&P 500 futures up 0.01%

-Nasdaq 100 futures unchanged

-Nasdaq 100 pre-market indicator up 0.01%

GLOBAL SENTIMENT

Nikkei market closed for holiday

Hang Seng up 0.97%

Shanghai Composite down 0.77%

FTSE-100 up 0.17%

DAX-30 down 0.13%

PRE-MARKET SECTOR WATCH

(+/-) Large cap tech: mixed

(+/-) Chip stocks: mixed

(+) Software stocks: higher

(+/-) Hardware stocks: mixed

(+/-) Internet stocks: mixed

(+/-) Oil stocks: mixed

(+/-) Biotech stocks: mixed

(+/-) Drug stocks: mixed

(+/-) Financial stocks: mixed

(+/-) Retail stocks: mixed

(+/-) Industrial stocks: mixed

(+) Airlines: unchanged to higher

(+/-) Autos: mixed

UPSIDE MOVERS

(+) MBRX (+10.6%) Reports positive initial treatment of first patient in anti-cancer trial in Poland

(+) DIS (+1.7%) ‘Avengers: Endgame’ sets new box office record with $1.2 billion global haul

(+) PSTI (+4.7%) Completes interim enrollment in pivotal CLI study

DOWNSIDE MOVERS

(-) MOMO (-9.1%) Chinese authorities remove Tantan mobile app on certain mobile app stores in China

(-) VNE (-17.5%) Widens Q1 loss, sales decline YoY

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