Wall Street Sees Cautiously Mixed Open, Oil Prices Surge After Pipeline Cyber-Attack
09:09 AM EDT, 05/10/2021 (MT Newswires) -- US stocks were set for a cautiously mixed open Monday, while oil prices jumped as traders monitored developments surrounding a cyber-attack on a key US pipeline.
Dow Jones Industrial Average futures increased 122 points or 0.4%, S&P futures inched up 4.5 points or 0.1%, while Nasdaq futures fell 41 points or 0.3%.
Both the DJIA and the S&P 500 set new record highs Friday after an unexpectedly weak April jobs report fueled hopes of continued fiscal and monetary support.
Front-month global benchmarks Brent crude rose 0.7% and US West Texas Intermediate crude increased 0.6% in the wake of a ransomware attack that forced Colonial Pipeline to shut down its entire system Friday.
There are no major economic data due for release.
In other world markets, Japan's Nikkei closed 0.6% higher, Hong Kong's Hang Seng closed 0.05% lower, and China's Shanghai Composite closed 0.3% higher. Meanwhile, UK's FTSE 100 slipped 0.01% and Germany's DAX index declined 0.1% in Europe's early afternoon session.
On the winning side, shares of BioNTech (BNTX) were 8.9% higher pre-bell after the company swung to a net profit on sharply higher revenue in Q1. Ceasarstone (CSTE) shares gained 5.6% after the company posted higher Q1 adjusted profit and revenue. IMV Inc. (IMV) shares increased 8% after the company said its lead compound, maveropepimut-S, will be investigated in breast cancer patients.
On the losing side, Kodiak Sciences (KOD) shares declined 17.3% after the company reported a wider Q1 net loss.