Futures turn green with Europe, Asia

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Stock futures are modestly higher this morning, following overseas markets higher.

The S&P 500, Dow Jones Industrial Average, and Nasdaq rose by less than 0.2 percent, following slight gains yesterday. The SPX has spent the last week consolidating at long-term resistance, which could be leading traders to interpret continued strength at this level as evidence of a potential breakout.

Germany's DAX is the leading index in Europe with a 0.8 percent gain. Asian markets also climbed, led by China as investors wagered that policymakers will loosen monetary conditions. Japan's Nikkei also rallied on greater confidence in the U.S. economy.

Foreign exchange and commodities painted a similar picture of strength, but not as clearly. The euro continued to advance against the U.S. dollar and the Japanese yen, a broad sign of risk appetite. But other currencies associated with risk, namely such the Canadian dollar and Australian dollar, didn't follow suit.

Commodities were also mixed. Oil rose about half a percent, and copper is higher by slightly more. But gold, silver, and agricultural foodstuffs are mostly lower.

In company-specific news, Salesforce.com is rallying 12 percent before the bell after a better-than-expected earnings report. Footwear companies Crocs and Deckers Outdoor are both down about 10 percent after higher raw-material prices caused their results to miss estimates.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright © 2010 OptionMonster® Holdings, Inc. All Rights Reserved.

This article appears in: Investing , Options
Referenced Symbols: CRM , CROX , DECK

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