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Wall Street Sees Cautiously Lower Open, Trump Impeachment Vote in Focus

01/13/2021 | 09:16am
(MT Newswires) -- US stocks were set for a slightly lower open Wednesday as traders remained sidelined while the political drama in Washington concerning the possible second impeachment of President Donald Trump continues.

Dow Jones Industrial Average futures slipped 39 points or 0.1%, S&P futures declined 8.0 points or 0.2%, and Nasdaq futures fell 29.0 points or 0.2%.

The US House of Representatives is set to vote to impeach Trump later Wednesday for stoking last week's deadly riot on Capitol Hill, with a small but significant number of Republican lawmakers expected to join the impeachment effort.

Oil prices gained, with global benchmark Brent crude up 0.04% and US West Texas Intermediate up 0.6%, after industry data showed a weekly draw in US crude stockpiles.

At 8:30 am, data showed US consumer prices rose by 0.4% in December, in-line with expectations, according to Bloomberg data, following a 0.2% uptick the previous month.

In other world markets, Japan's Nikkei closed 1% higher, Hong Kong's Hang Seng closed 0.15% lower, and China's Shanghai Composite closed 0.3% lower. Meanwhile, UK's FTSE 100 fell 0.1% and Germany's DAX index rose 0.01% in Europe's early afternoon session.

On the winning side, shares of Summit Midstream Partners (SMLP) were 41% higher pre-bell after the company said it has received a notice from the Federal Energy Regulatory Commission to proceed with the construction of its Double E Pipeline project. Acorda Therapeutics (ACOR) shares soared 73% after the company agreed to sell its Inbrija manufacturing operations for $80 million in cash. WiMi (WIMI) shares surged 36.7% after the company secured a patent for 3D holographic pulse laser processing technology.

On the losing side, Marathon Patent Group (MARA) shares fell 16.5% after the company entered into a deal to sell $250 million shares of its common stock in a direct offering. Harbor Custom Development (HCDI) shares declined 13% after the company priced a $24 million public offering. Dolphin Entertainment (DLPN) shares decreased 8.9% after the company agreed to acquire public relations firm B/HI.

© MT Newswires 2021
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