Investors are closely watching upcoming economic reports and corporate earnings as they assess the state of the economy and the stock market. Exchange-traded funds and equity futures were higher in premarket trading on Monday, with the S&P 500 ETF Trust rising 0.5% and the Invesco QQQ Trust advancing 0.4%. Key economic data expected today include the Chicago Fed National Activity Index for January and the Dallas Fed Manufacturing Survey for February.
These reports will provide insights into economic activity and manufacturing trends. In corporate news, Fiscalnote shares surged over 6% pre-bell after announcing the sale of two units to Dow Jones for $40 million. However, Domino’s Pizza shares fell 3.6% following disappointing fiscal Q4 earnings and revenue.
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The energy sector saw mixed movements, with Kosmos Energy’s stock rising 3.5% before the opening bell despite reporting a Q4 adjusted net loss due to lower revenue. In healthcare, Summit Therapeutics stock rose 3% premarket after announcing a collaboration with Pfizer to evaluate its investigational drug for the treatment of multiple solid tumors.
The financial sector also saw activity, with Equitable Holdings shares up 1.9% ahead of the bell after launching a cash tender offer to purchase up to 46 million AllianceBernstein Holding units for $1.8 billion. AllianceBernstein stock rose 2.9% pre-bell. Commodities had mixed movements, with front-month US West Texas Intermediate crude oil down slightly by 0.04% to $70.37 per barrel, while gold futures for April delivery advanced 0.3% to $2,962.30 an ounce.
As investors focus on inflation data and corporate developments, they will be looking for signs of economic health and market trends. The upcoming reports and earnings releases will play a crucial role in shaping investor sentiment and market direction in the near term.
Image Credits: Photo by Jason Briscoe on Unsplash
