US pre-open: Futures mixed following ransomware attack on major fuel pipeline
Wall Street futures had stocks opening with mixed results ahead of the bell on Monday, with both energy and cybersecurity stocks in focus following a cyber attack that shut down a major US fuel pipeline.
As of 1220 BST, Dow Jones futures were up 0.29%, while S&P 500 futures were 0.06% former and Nasdaq-100 futures were 0.32% lower.
The Dow closed 229.23 points higher on Friday as both the Dow Jones and the S&P 500 registered fresh record highs.
Energy stocks were in focus ahead of the bell on Monday after a ransomware attack led to the closure of the Colonial Pipeline, a 5,500-mile system between the Gulf Coast and the New York metropolitan area and transports 45% of the East Coast's fuel supply, on Friday in order to "contain the threat". Colonial said on Sunday that several of its smaller lateral lines were once again online but stated that its main lines were still offline.
Cybersecurity stocks also benefitted from the news, with shares in FireEye, Fortinet and CrowdStrike all trading higher prior to the open, after multiple sources claimed the attack was undertaken by a Russian cybercriminal gang called DarkSide. The hackers, who infiltrated Colonial's network on Thursday and took almost 100GB of data hostage, locked the data on computers and servers, vowing to leak said data onto the internet if a ransom is not paid.
Elsewhere in the corporate space, Tesla was in the red following Elon Musk's appearance on Saturday Night Live over the weekend and Oracle slumped on the back of a downgrade by analysts at Barclays.
On the macro front, the Institute of Supply Management's April New York index will be published at 1445 BST, while last month's consumer inflation expectations will follow at 1600 BST.
Federal Reserve Bank of Chicago president Charles Evans will deliver a speech at 1900 BST.