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* Tinder parent Match Group jumps on joining S&P 500
* Boeing drops after Ryanair ends jet order talks
* Futures: Dow and S&P flat, Nasdaq up 0.05%
(Updates prices, adds comment)
By Shashank Nayar
Sept 7 (Reuters) - Wall Street was set for a subdued open on
Tuesday as worries over the slowing pace of economic recovery
overshadowed hopes that the Federal Reserve would maintain its
accommodative stance a little longer after a soft U.S. payrolls
report.
Microsoft Corp, Amazon.com Inc and
Facebook Inc eased about 0.2% each in premarket trading,
while Apple Inc and Google-owner Alphabet Inc
were slightly higher. Markets were shut on Monday for the Labor
Day holiday.
Halliburton Co, Occidental Petroleum Corp,
Exxon Mobil Corp and Chevron Corp dropped
between 0.5% and 0.8% after Saudi Arabia's sharp cuts in crude
contract prices for Asia sparked fears about slower demand and
led to a drop in oil prices.
"We are entering a time of the year where the market
normally corrects and there is so much skepticism among
investors that the market is climbing a wall of worry as the
prevailing fundamental risks are not having any effect," said
Arthur Weise, chief investment officer at Kingsland Growth
Advisors.
The Nasdaq hit a record high on Friday, while the other two
main indexes posted small declines, reflecting mixed sentiment
stemming from a disappointing U.S. jobs report.
Still, the S&P 500 and the Nasdaq are up 1.5%
each since Aug. 27 following dovish commentary from Fed Chair
Jerome Powell at the Jackson Hole Symposium where he again said
that a stable job market was an essential goal for the central
bank to start pulling back monetary support.
Easy central bank policies and re-opening optimism have
pushed the benchmark indexes to multiple record highs over the
past few weeks, but concerns over rising Delta coronavirus
infections and its impact on the economic recovery could impede
the rally.
"The spread of COVID continues to have an impact and we also
have the end of extended employment benefits, factors that could
possibly act as negative headwinds to the economy going ahead,"
Weise said.
At 8:38 a.m. ET, Dow e-minis were up 15 points, or
0.04%, S&P 500 e-minis were up 1.75 points, or 0.04%,
and Nasdaq 100 e-minis were up 7.5 points, or 0.05%.
Tracking a rise in yields on U.S. Treasury bonds
, banks including Wells Fargo, Goldman Sachs
, Citigroup and JP Morgan rose 0.4% each.
Boeing Co slipped 0.9% after Ireland's Ryanair
said it had ended talks with the planemaker over a
purchase of 737 MAX 10 jets worth tens of billions of dollars
due to differences over price.
U.S.-listed shares of China's JD.com rose 1.6% after
the company said on Monday founder and Chief Executive Officer
Richard Liu would switch his focus to the e-commerce giant's
long-term strategy.
Match Group Inc shares jumped 9.3% after the S&P
Dow Jones Indices said on Friday the Tinder parent will join the
benchmark index, replacing Perrigo Company Plc.
Columbia Property Trust Inc surged 15.7% after
Pacific Investment Management Company (PIMCO) said it would buy
the company for $2.2 billion.
(Reporting by Shashank Nayar in Bengaluru; Editing by Anil
D'Silva)
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