Morning Wire — Futures Up on Better News from Europe
US stock futures are up this morning as traders following a better than expected sale of Spanish bonds, and rising investor and analyst confidence in the German economy. US retail sales, which are reported at 8:30 a.m. this morning are…
US stock futures are up this morning as traders following a better than expected sale of Spanish bonds, and rising investor and analyst confidence in the German economy. US retail sales, which are reported at 8:30 a.m. this morning are expected to rise by 0.6% on strong car sales and solid holiday shopping numbers. The Fed Open Market Committee meets today and is not expected to change existing interest rates at its announcement this afternoon.
At about 7:30 a.m. ET, Germany’s DAX is up about 0.66% at 5,823.63 and France’s CAC 40 is up about 0.13%, at 3,093.73.
In Asia, Hong Kong’s Hang Seng index is down -0.69%, at 18,447.20. The Nikkei index is down about -1.17%, at 8,552.81, and the Shanghai index is down about -1.87%, at 2,248.59. In London, the FTSE 100 is up 0.66%, at 5,463.83.
Dow futures are up 0.45%, at 11,997.00. The Nasdaq 100 is up 0.59%, at 2,304.00 and the S&P is up 0.56%, at 1,236.20.
In the currency markets, the euro is up against the US dollar, the Japanese yen, and the British pound, while the US dollar is down slightly against both the yen and the British pound.
In commodities, both WTI and Brent crude are higher this morning, with WTI at $98.334/barrel and Brent at $108.16/barrel. Gold is flat, at $1,668.20.
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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.