|
*
Oil prices were up more than 1 percent, driven by supply
disruptions in Canada and elsewhere that have knocked out 2.5
million barrels of daily production. [O/R]
* An early rally in oil prices on Monday lost steam later in the
day, dragging down energy shares, although Wall Street ended
mostly higher for the day after a rise in healthcare companies
offset the decline in energy and materials shares.
* Investors will be watching out for wholesale inventories data
at 10 a.m. ET (1400 GMT), keen to see if inventories, which fell
at their fastest pace in nearly three years in February,
rebounded by an expected 0.1 percent in March.
* The S&P, which has risen about 15 percent since its February
lows, has slowed its rally in the last two weeks as
underwhelming quarterly earnings and mixed economic data cloud
the path of U.S. interest rate hikes.
* While commentary from various Federal Reserve officials in the
past few weeks has hinted at two rate hikes this year, traders
are pricing in only one increase at the end of the year.
* With first-quarter reports almost all in, earnings at S&P 500
companies, on average, fell 5.5 percent while revenue was down
1.9 percent, according to Thomson Reuters I/B/E/S.
* Dow component Walt Disney <DIS.N> and videogame publisher
Electronic Arts <EA.O> are scheduled to report after the closing
bell.
* Gap shares fell 13.5 percent to $18.86 in premarket trading
after the retailer reported a decline in sales for the fifth
straight quarter.
* SolarCity was down 20.5 percent at $17.90 after the solar
panel maker posted a bigger-than-expected quarterly loss and cut
its forecast.
* Lumber Liquidators fell 10.8 percent to $12 as the company's
sales fell for the fourth straight quarter.
Futures snapshot at 7:04 a.m. ET:
* S&P 500 e-minis were up 6.25 points, or 0.3 percent,
with 209,405 contracts traded.
* Nasdaq 100 e-minis were up 11.5 points, or 0.27 percent, on
volume of 28,240 contracts.
* Dow e-minis were up 61 points, or 0.35 percent, with
30,259 contracts changing hands.
(Reporting by Tanya Agrawal in Bengaluru; Editing by Savio
D'Souza)
[© 2016 Thomson Reuters. All rights
reserved.] Copyright 2016 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
 |
|
