US equity futures were mixed on Monday, ahead of the penultimate day of a blockbuster year for risk-assets, while airstrikes in Iraq and Syria unsettled investors and raised crude oil prices.
Early on Sunday, the United States conducted airstrikes against five targets in Iraq and Syria associated with an Iran-backed militia.
Officials said the strikes came in response to an attack on Friday in which more than 30 rockets were fired at an Iraqi military base near Kirkuk, killing a US contractor and wounding four US troops.
Oil prices rose as traders bet that military action would slow exports.
These developments come after a lackluster session on Friday, where the S&P 500 (-0.02%) ended flat, while the Nasdaq (-0.08%) slipped to end its 11-day winning streak.
Ahead, in today’s economic calendar, Monday includes; International Trade in Goods data for November, as well as Wholesale Inventories for November at 8:30am EST, the Chicago PMI for December at 9:45am EST, followed by Pending Home Sales for November at 10am EST.
In earnings; Nio (NIO) reported ahead of the opening bell.
TODAY'S TOP HEADLINES
Middle East, Energy & Oil: US Strikes Shiite Militia Targets in Iraq and Syria. (The WSJ)
The US carried out airstrikes against an Iranian-backed Shiite militia group in Iraq and Syria, in the Trump administration’s most forceful response to Tehran’s assertive posture in the region.
Today's Economical Announcements.
08:30AM - ★★☆ - Goods Trade Balance (Nov) (Previous: -66.53B)
08:30AM - ★★☆ - Wholesale Inventories (MoM) (Previous: 0.1%)
09:45AM - ★★☆ - Chicago PMI (Dec) (Previous: 46.3)
10:00AM - ★★★ - Pending Home Sales (Nov) (Previous: -1.7%)
STOCKS IN THE SPOTLIGHT
Pre-Market Movers & News Related Stocks.
Nio (NIO): [EARNINGS] Reported a lower-than-expected loss for its latest quarter, as well as better-than-expected revenue. Nio said it increased deliveries in China despite a reduction in electric vehicle subsidies.
Goodyear Tire (GT): [RATED] Rated “buy” in new coverage at Nomura/Instinet, with a price target of $20 per share. The firm said it saw a strong earnings recovery from 2020 onwards following a restructuring.
Tesla (TSLA): [NEWS] Delivered the first Model 3 sedans made at its new Shanghai factory, and plans to ramp up deliveries in January.
Restaurant Brands International (QSR): [NEWS] Said Tim Hortons unit president Alex Macedo would leave the company in March after two years in the job. The company’s most recent quarter saw results negatively impacted by Tim Hortons, while its Burger King and Popeyes chain had more positive performances.
Walt Disney (DIS): [NEWS] Disney’s “Star Wars: The Rise of Skywalker” topped the weekend box office for the second straight weekend, taking in $72 million in North American ticket sales.
LendingTree (TREE): [UPGRADE] Upgraded to “buy” from “neutral” at Compass Point in what the firm characterizes as a valuation call. Its price target for the online lender remains at $340 per share.
iHeartMedia (IHRT): [NEWS] A purchase of the radio station operator by Liberty Media may be blocked by the Justice Department, according to the New York Post. The paper said regulators are going to examine whether such a combination might be anticompetitive.
Molecular Data (MKD) (Low: 5, High: 7) (Est. Vol: $69.0M)
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