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Morning Wire — US Stock-Index Futures Higher

US stock-index futures are higher this morning following a mixed reaction to this morning’s sale of Italian debt. Yields on the 3-year and 10-year debt were lower than the November sale, but Italy failed to reach its goal for a…

By Paul Ausick
Published December 29, 2011, 7:46am ET · 2 min read

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US stock-index futures are higher this morning following a mixed reaction to this morning’s sale of Italian debt. Yields on the 3-year and 10-year debt were lower than the November sale, but Italy failed to reach its goal for a total sale of euro8.5 billion. Yields on the 10-year notes came in at 6.98% as buyers demand a high premium for long-term Italian debt. In the US, initial unemployment benefits claims are due this morning and the total is expected to rise to around 375,000. Pending home sales are expected to rise slightly, by 1.5%, in another bit of good news about the US economy.

At about 7:40 a.m. ET, Germany’s DAX is up 0.15% at 5,779.99 and France’s CAC 40 is up 0.09%, at 3,0.73.82. In London, the FTSE 100 is down -0.08%, at 5,502.81.

In Asia, Hong Kong’s Hang Seng index is down -0.65%, at 18,397.90. The Nikkei index is down -0.29%, at 8,398.89, and the Shanghai index is up 0.16%, at 2,173.56.

Dow futures are up 0.23%, at 12,109.00. The Nasdaq 100 is up 0.25%, at 2,265.25 and the S&P is up 0.29%, at 1,248.10.

In the currency markets, the US dollar is slightly stronger against the euro and the British pound, and weaker against the Japanese yen. The euro has fallen to belown $1.29. The US dollar index is up about -0.270% at 80.73.

In commodities, both WTI and Brent crude are higher this morning, with WTI at $99.70/barrel and Brent at $107.64/barrel. Gold is down more than -2%, at $1,530.60.

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Paul Ausick

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.

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