Futures mixed as Europe, Asia rally
Evan McDaniel | email@example.com
U.S. equity indexes are pointing toward a mixed open after rallying strongly at the end of last week amid speculation over Fed and Eurozone stimulus moves.
S&P 500 futures are down 3.25 points, or 0.25 percent, to 1379 this morning. Nasdaq 100 contracts are flat at 2642 at the time of this writing.
European markets are rallying despite weakness in the euro. The Euro STOXX 50 is positive by 0.95 percent and the German DAX by 0.76 percent. The euro/dollar is down 0.38 percent to 1.227 but still above historical support of 1.225.
The dollar's relative strength has sent crude futures down 0.23 cents, or 0.26 percent, to 89.89 after oil traded as high as 90.95 last night. Copper prices are lower by 0.31 percent to 3.4155, while spot gold prices are off fractionally to 1621.50.
Asian indexes closed mostly higher, with Hong Kong's Hang Seng rallying 1.61 percent after its largest bank, Hang Seng Bank, beat earnings expectations. Japan's Nikkei 225 gained 0.8 percent as traders looked past weak industrial numbers in that country.
In stock-specific news, metallurgical coal names are higher this morning, led by a 7 percent rise in Arch Coal.
Shaw Group is soaring more than 64 percent on a $3 billion buyout offer from Chicago Bridge & Iron.
Stocks attempt to stage a rebound
May 17, 2013
The main catalyst for the buyers appears to be coming from Asia, where Tokyo and Shanghai indexes rallied overnight amid positive Japanese economic data and signs that Chinese authorities will reduce economic regulations.
Equities are hovering at record levels
May 16, 2013
S&P 500 futures are indicated to open fractionally lower but have been nudging higher throughout the morning. The Nasdaq is up almost two-tenths of a percent after strong numbers from Cisco.
Equities in range after big gains
May 15, 2013
S&P 500 futures are little-changed, while most European indexes are posting small gains. Asian markets were mostly positive overnight, led by a 2 percent rally in Tokyo.
Wide range of events on calendar
May 15, 2013
German, France, and Italy will report preliminary gross domestic product numbers early in the morning, which could affect sentiment before the opening bell.
Another record day on Wall Street?
May 14, 2013
S&P 500 futures are fractionally higher after earlier falling by more than one-tenth of a percent. Europe is also fighting its way back to positive after posting slightly larger declines.