Wall Street Set to Open Flat in Friday Trading; Import, Export Prices Decline More Than Expected
US stocks look set to open relatively flat in Friday's trading session as investors parse import and export index prices, which fell more than expected, and await consumer sentiment and expectations readings set for release later in the morning.
The Dow Jones Industrial Average futures were up 0.22%, S&P 500 futures gained 0.21%, and Nasdaq futures were up 0.02%.
Oil prices were moving higher, with front-month global benchmarks Brent crude and West Texas Intermediate crude rising 0.93% and 1.13% respectively.
US Export prices were down 0.7% in August from July, compared with forecasts of a 0.1% decline, while import prices declined 0.3%, compared with expectations of a 0.2% decline, according to Bloomberg.
In other world markets, Japan's Nikkei lost 0.68%, Hong Kong's Hang Seng was up 0.75%, and China's Shanghai Composite was down 0.48%. Meanwhile in Europe's early afternoon session, the UK's FTSE 100 was up 0.29%, while Germany's DAX and France's CAC gained 0.56% and 0.30% respectively.
In equities, shares of Tenon Medical (TNON) skyrocketed 158% in Friday's premarket activity, adding to a 45% gain the previous session. The company said late Thursday that it is planning to launch a new joint fusion system that offers a 30% reduction in implant size in early Q4. Vision Marine Technologies (VMAR) shares soared 97%, following a 5.6% loss on Thursday. Shares of Singular Genomics Systems (OMIC) jumped 63% after it said late Thursday that it received a non-binding proposal from Deerfield Management to buy all of the company's shares it doesn't already own for $10 each in cash. Shares of Immuneering Corporation (IMRX) surged 42%, adding to Thursday's 11% gain. And SMX (SMX) shares advanced 28%, erasing Thursday's 22% loss.
On the losing side, shares of Edgio (EGIO) plunged 41% after jumping 119% the previous session. Wang & Lee Group (WLGS) shares tumbled 21%, eating into a 41% gain on Thursday. Visionary Holdings (GV) stock dropped 18% after soaring 118% Thursday when it said it signed a memorandum of understanding with Saudi Arabia's Public Investment Fund to secure a $120 million investment to support its industrial projects. Telesis Bio (TBIO) shares shed 13%, more than erasing a 6.5% gain from the previous session. The company said Tuesday that it would ask the Securities and Exchange Commission to remove its listing on the Nasdaq around Sept. 20. And shares of Quhuo Limited (QH) dropped11%, piling on to a 26% loss the previous session.
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