Wall Street Stabilizes, Driving Quiet Premarket Action for US Equity Futures

MT Newswires Live
03-11

US equity futures were little changed pre-bell Tuesday, as investor sentiment stabilized after the previous session's losses fueled by fears of a possible US recession.

The Dow Jones Industrial Average futures was 0.04% down, S&P 500 futures were 0.02% lower, and Nasdaq futures were up 0.01%.

In a media interview over the weekend, President Donald Trump declined to rule out that the US economy may be entering a recession in 2025.

Oil prices were higher, with front-month global benchmark North Sea Brent crude up 1.1% at $70.04 per barrel and US West Texas Intermediate crude 1% higher at $66.73 per barrel.

The Bureau of Labor Statistics' Job Openings and Labor Turnover Survey, scheduled for release at 10 am ET, is expected to show job openings of 7.65 million in January versus 7.6 million in December, according to estimates compiled by Bloomberg.

In other world markets, Japan's Nikkei closed 0.6% lower, Hong Kong's Hang Seng ended 0.01% lower, and China's Shanghai Composite finished 0.4% higher. Meanwhile, UK's FTSE 100 fell 0.5%, and Germany's DAX index gained 0.2% in Europe's early afternoon session.

In equities, Sonoma Pharmaceuticals (SNOA) stock was 54% higher after the company said overnight it secured UK regulatory clearances for certain wound care and dermatology products. LifeMD (LFMD) stock was up 19% a day after the company reported higher Q4 adjusted earnings and revenue.

On the losing side, Kohl's (KSS) stock was down 16% after the company reported lower fiscal Q4 adjusted earnings and revenue. Arvinas (ARVN) shares slumped 36% after the company and Pfizer (PFE) said their phase 3 trial of vepdegestrant for the treatment of breast cancer failed to reach statistical significance in improvement in progression-free survival in the intent-to-treat population.

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