Wall Street Narrowly Mixed as Geopolitical Tensions Rise, Data in Focus

Wall Street Narrowly Mixed as Geopolitical Tensions Rise, Data in Focus

U.S. stocks were set for a narrowly mixed open on Friday as geopolitical tensions rose after North Korea fired another missile over Japan and a terrorist attack in London, and amid a raft of readings on the U.S. economy.

Oil prices nudged higher with global benchmark Brent Crude up 0.20%, and U.S. crude West Texas Intermediate up 0.18% recently, as the clean-up after hurricanes in the U.S. gathered pace and outlook for demand brightened.

Data released at 8:30 a.m. showed retail sales fell 0.2% in August versus estimate for a 0.1% gain and July’s revised gain of 0.6%. The Empire State general business conditions index came in at 24.4 level for the month as compared to prior level of 25.2 and the 19.0 level seen by forecasters, according to data compiled by Econoday.

At 9:15 a.m., forecasters see both industrial production and manufacturing rising 0.1% in August as compared to a 0.2% gain and 0.01% decline, respectively, in July.

At 10:00 a.m., estimates are calling for another build in business inventories for July of 0.2% from prior month’s 0.5% gain. Preliminary reading for consumer sentiment is expected to come in at 96.0 versus August’s final reading of 96.8.

In equities, shares of Eldorado Gold Corporation ( EGO ) were 5.2% higher pre-bell after the company received the approval from the Greek government of the technical study for the Old Olympias Mine closure and installation permit for the paste plant at Olympias.

U.S. PRE-MARKET INDICATORS

-Dow Jones Industrial up 0.04%

-S&P 500 futures down 0.08%

-Nasdaq 100 futures down 0.10%

-Nasdaq 100 pre-market indicator flat 0%

GLOBAL SENTIMENT

Nikkei up 0.52%

Hang Seng up 0.11%

Shanghai Composite down 0.53%

FTSE-100 down 1.25%

DAX-30 down 0.11%

PRE-MARKET SECTOR WATCH

(+/-) Large cap tech: mixed

(+/-) Chip stocks: mixed

(+/-) Software stocks: mixed

(-) Hardware stocks: unchanged to lower

(-) Internet stocks: lower

(+) Oil stocks: unchanged to higher

(+) Biotech stocks: unchanged to higher

(+/-) Drug stocks: mixed

(+/-) Financial stocks: mixed

(+/-) Retail stocks: mixed

(+) Industrial stocks: unchanged to higher

/-) Airlines: lower

(+/-) Autos: mixed

UPSIDE MOVERS

(+) MRTX (+78.1%) Reports positive preliminary data from two ongoing studies of non-small cell lung cancer treatment

(+) ARRY (+5.3%) Prices stock offering at 0.5% discount

(+) MRNS (+3.6%) Prices stock offering for total gross proceeds of $35 million

DOWNSIDE MOVERS

(-) TTOO (-38.8%) Prices stock offering at $4 per share

(-) ORCL (-4.1%) Sees Q2 earnings in line to below Street consensus

(-) FDC (-3%) Enters referral partnership with Valley National Bancorp unit

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