Morning Wire — Futures Up on Europe Expectations
US stock futures are higher this morning on positive speculation that the Eurozone will reach an agreement on how to deal with the monetary union’s debt crisis. The European Central Bank is expected to cut its interest rate from 1.25%…
US stock futures are higher this morning on positive speculation that the Eurozone will reach an agreement on how to deal with the monetary union’s debt crisis. The European Central Bank is expected to cut its interest rate from 1.25% to 1% at its meeting tomorrow, further adding stimulus to the Eurozone economy.
At about 6:30 a.m. ET, Germany’s DAX is up about 0.26% at 6,044.57 and France’s CAC 40 is up about 0.54%, at 3,196.82.
In Asia, Hong Kong’s Hang Seng index is up 1.58%, at 19,240.60. The Nikkei index is up about 1.7%, at 8,722.17, and the Shanghai index is up about 0.3%, at 2,332.73. In London, the FTSE 100 is up only 0.02%, at 5,569.73.
Dow futures are up about 0.04%, at 12,155. The Nasdaq 100 and the S&P 500 are both up, with the S&P up about 0.33%, at 1,259.10 and the Nasdaq up about 0.3%, at 2,328.50.
In the currency markets, the euro is down slightly against the US dollar, the Japanese yen, and the British pound. The US dollar is down slighly against the pound and the yen.
In commodities, both WTI and Brent crude are lower this morning, with WTI at $101.11/barrel and Brent at $110.27/barrel. Gold is down about -0.13%, at $1,729.60.
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.