ISM & Beige Book Ahead

Good morning. Premarket futures are pointing to a weak open following the Q2 productivity report. While matching expectations, unit labor costs rose higher than previously expected which will raise inflation concerns. Meanwhile, oil prices continue their freefall this morning.

Stocks gaining ground in premarket trading include HAIN, ZGEN, SONS, STXN, NFLX, ADLR, MRVL, COGO, ASML, RMBS, TOMO, and NOOF. Stocks under pressure are FNSR, CACS, KOMG, EPCT, PCLN, MGLN, PNRA, XMSR, AAUK, BOBJ, SNDK, INTC, BRCM, and AEOS.

Later this morning we have the ISM report at 10:AM and the Beige Book at 2:PM. Will the bulls rally'em with the release of the Beige Book like they have in the past? I don't know, but I suspect we'll have to keep an eye out for the possibility. Have a wonderful Wednesday!