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Investors' Sentiment Rises on Trump Bets, Lifting US Equity Futures Pre-Bell
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Investors' Sentiment Rises on Trump Bets, Lifting US Equity Futures Pre-Bell
Jul 15, 2024 6:34 AM

09:07 AM EDT, 07/15/2024 (MT Newswires) -- US equity futures posted gains pre-bell Monday as markets evaluated the implications of an assassination attempt on former US president Donald Trump.

The Dow Jones Industrial Average futures rose 0.5%, S&P 500 futures gained 0.4%, and Nasdaq futures were up 0.5%.

On Saturday, presidential candidate Donald Trump was injured in a shooting during a campaign rally in Butler, Pennsylvania, which was seen as likely to improve his chances of winning the upcoming presidential election.

Oil prices were little changed, with front-month global benchmark North Sea Brent crude down less than 0.1% at $85.01 per barrel and US West Texas Intermediate crude down 0.1% at $80.97 per barrel.

The Empire State Manufacturing Index, released at 8:30 am ET, came in at negative 6.6 in July versus June's negative 6.0 and estimates compiled by Bloomberg for negative 8.0.

Federal Reserve Chair Jerome Powell is scheduled to speak in an interview hosted by the Economic Club of Washington at 12 pm ET.

In other world markets, Hong Kong's Hang Seng ended 1.5% lower, China's Shanghai Composite finished nearly 0.1% higher, while the Japanese market was closed for a holiday. Meanwhile, the UK's FTSE 100 was down 0.4%, and Germany's DAX index was 0.5% lower in Europe's early afternoon session.

In equities, shares of Trump Media & Technology Group ( DJT ) were 46% higher pre-bell following the weekend after Trump survived the attempted assassination. Scinai Immunotherapeutics ( SCNI ) stock was 39% higher after the company reported "successful" results from a pre-clinical trial of a treatment candidate for plaque psoriasis.

On the losing side, Ericsson (ERIC) shares were down 1% after the company signed a cross-license deal with smartphone manufacturer OPPO covering patents related to cellular technologies, including 5G.

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