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
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