Higher bond yields on Italian and Spanish 10-year notes and an announcement last night of a 12% reduction in production from Alcoa Inc. (NYSE: AA) have kept European and Asian markets from moving sharply higher. US index futures are also only slightly higher this morning as investors wait to hear the coming report on US non-farm payrolls. The consensus forecast for US job growth is 155,000, up from 120,000 in November. Other reports on US employment have been encouraging, so if this one is solidly higher, US markets could have a really good Friday.
At about 8:15 a.m. ET, Germany’s DAX is up 0.33% at 6,115.94 and France’s CAC 40 is up 0.69%, at 3,166.57. In London, the FTSE 100 is up 0.55%, at 5,654.94.
In Asia, Hong Kong’s Hang Seng closed down -1.17%, at 18,593.10. The Nikkei index closed down -1.16%, at 8,390.35, and the Shanghai index closed up 0.7%, at 2,163.40
Dow futures are up 0.17%, at 12,352.00. The Nasdaq 100 is up 0.15%, at 2,343.00 and the S&P is up 0.19%, at 1,275.50.
In the currency markets, the US dollar is stronger against the euro, the British pound, and the Japanese yen. The US dollar index is up about 0.075% at 80.982.
In commodities, both WTI and Brent crude are higher this morning, with WTI at $102.17/barrel and Brent at $112.84/barrel. Gold is also higher this morning, at $1,623.70/ounce.