U.S. Futures Cautiously Lower Ahead of Speakers

U.S. stock futures were trading cautiously lower on Monday ahead of a few Federal Reserve speakers later in the session and a couple of readings on the U.S. economy.

Oil prices nudged higher with global benchmark Brent Crude up 1.58%, while U.S. crude, West Texas Intermediate, was up 0.91% recently after oil producers concluded their meeting in Vienna, noting that the alliance had reached its highest ever level of compliance in August

At 8:30 a.m., the Chicago Fed National Activity Index is seen rising slightly to 0.11 in August compared to a negative 0.01 in July, according to data compiled by Econoday.

At 10:30 a.m., data are expected to show the Dallas Fed general activity index coming at 12 for September, representing a decrease from August’s 17.0.

Federal Reserve Presidents William Dudley, Charles Evans and Neel Kashkari are scheduled to speak Monday.

In equities, shares of Aradigm Corp. (ARDM) were trading 40.3% higher pre-bell after the U.S. Food and Drug Administration accepted for review the company’s new drug application for Linhaliq for the treatment of non-cystic fibrosis bronchiectasis patients with chronic infections with Pseudomonas aeruginosa. The application has been granted priority review status.

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