US equity futures displayed a mixed performance ahead of Monday's opening bell, as investors chose to remain on the sidelines during a quiet day for both earnings announcements and economic data releases. The Dow Jones Industrial Average futures experienced a slight decline of 0.2%, while the S&P 500 futures saw a modest increase of 0.2%.
Nasdaq futures noted a gain of 0.3%, reflecting a cautious sentiment among traders. In the commodities market, oil prices experienced a downward trend, with the front-month global benchmark, North Sea Brent crude, dropping 2% to $77.50 per barrel. Similarly, US West Texas Intermediate crude saw a decline of 2.1%, trading at $73.97 per barrel.
Interestingly, the day did not bring any significant economic data releases that could sway investor decisions. Turning to international markets, Japan's Nikkei index closed 0.6% higher, indicating a bullish sentiment in the region. In contrast, Hong Kong's Hang Seng index ended the day 0.8% lower, while China's Shanghai Composite managed to finish 2.1% higher, showcasing the mixed performance across different Asian markets.
In Europe, the UK's FTSE 100 gained a slight 0.1%, and Germany’s DAX index rose 0.3%, suggesting a stable trading environment in European equities during the early afternoon session. On the equity front, shares of B. Riley Financial experienced a remarkable surge, increasing nearly 23% prior to market open.
This surge follows the announcement that the company has agreed to sell its Great American Group unit to Oaktree in a deal valued at an impressive $386 million. Similarly, Longboard Pharmaceuticals saw its shares rise by 51% after confirming that it has agreed to be acquired by Lundbeck in a lucrative deal estimated at $2.60 billion.
However, not all stocks were thriving; Boeing shares fell by 2% after the company unveiled plans to cut jobs and issued guidance on a Q3 loss that exceeded analysts’ estimates from Capital IQ. As the market awaits clearer economic signals and earnings reports, traders remain focused on volatility and potential opportunities for investment..