Stock futures are pushing higher today, but the real move is in commodities as Tropical Storm Isaac approaches the Gulf Coast.
The S&P 500 is indicated to open higher by about 0.2 percent. The Nasdaq 100 is indicated to climb more than twice that amount following a decisive legal victory by Apple over Samsung. Asian indexes fell slightly in the overnight session, while European markets posted small gains this morning.
Oil rose almost 1 percent before the bell, while gasoline futures surged 3 more than 3 percent. Natural gas rose about 1.5 percent. The moves come after Isaac forced closures of energy platforms and refineries in the southern U.S. There were also bearish options trades last week in airlines, which are highly sensitive to fuel costs.
Agricultural foodstuffs continued to advance, while silver and copper also posted small gains. Gold is down slightly.
Foreign-exchange moves were muted, with the euro and Canadian dollar up slightly against the greenback. The Australian dollar, however was weaker, and the Japanese yen edged lower against the euro and the U.S. currency.
AAPL advanced by 3 percent in early trading and is set to establish a new al-time high over $680. Dollar Thrifty Automotive Group is also up by 7 percent after agreeing to a buyout at the hands of Hertz Global Holdings.
Traders this week is also likely to look forward to Ben Bernanke's speech at the Fed's Jackson Hole meeting on Friday.
Learn the trade here. Make it on tradeMONSTER™
