Dow Futures Decline After Recent Rally, All Eyes On Powell’s Jackson Hole Speech: NVO, UNH, FSLR, RUN, PANW Among Stocks To Watch

U.S. stocks appear set for a negative opening on Monday as investors turn their focus to Federal Reserve Chair Jerome Powell’s speech at the Jackson Hole symposium on Friday.

While Dow Jones futures edged lower by 0.1% at the time of writing, the S&P 500 futures fell 0.12%, and the tech-heavy Nasdaq 100’s futures fell 0.14%. Futures of the Russell 2000 index were down 0.05%.

Meanwhile, the SPDR S&P 500 ETF (SPY) was down 0.11% at the time of writing, while Invesco QQQ Trust (QQQ) declined 0.19% on Monday morning. Retail sentiment around the S&P 500 ETF on Stocktwits was in the ‘neutral’ territory.

Asian markets ended Monday’s trading session on a mixed note, with the Nikkei 225 leading with a gain of 0.88%, followed by the Shanghai Composite at 0.84%, and the TWSE Capitalization Weighted Stock index at 0.6%.

The KOSPI declined 1.52%, while the Hang Seng fell 0.41%.

Stocks To Watch

• Novo Nordisk AS (NVO): Novo Nordisk shares climbed 4% in Monday’s pre-market session after the U.S. Food and Drug Administration (FDA) conditionally approved Wegovy for fatty liver disease treatment.
• UnitedHealth Group Inc. (UNH): UnitedHealth shares rose nearly 3% pre-market, continuing to rally after Warren Buffett’s Berkshire Hathaway Inc. (BRK) revealed it acquired a $1.6 billion stake in the company in the second quarter (Q2).
• First Solar Inc. (FSLR), Sunrun Inc. (RUN), SolarEdge Technologies Inc. (SEDG), Enphase Energy Inc. (ENPH), NextEra Energy Inc. (NEE): Solar stocks rose in Monday’s pre-market session between 0.1% and 2.5% after the Treasury Department clarified rules on eligibility for clean energy tax credits.
• Palo Alto Networks Inc. (PANW) is set to announce its fourth-quarter (Q4) results on Monday.

Also See: Goldman Sachs Warns ‘Goldilocks’ Market May Be Hit By An Underlying Storm: Report

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