Stocks are following Europe higher this morning, one day after
closing for the Thanksgiving holiday.
S&P 500 futures are up more than 0.1 percent, while the
Nasdaq 100 and Russell 2000 are indicated up by about 0.4
percent. Trading is also positive across the Atlantic, led by
higher-risk countries like Italy and Spain. Asia was
little-changed overnight. U.S. markets close early today, at 1
The S&P 500 has been steadily climbing and closed at another
record high on Wednesday. Strength has been spread across several
groups, with drug developers and consumer-discretionary stocks
standing out recently on our proprietary researchLAB analysis
tool. Ocean shippers are also showing signs of life after major
pullbacks, while metals and energy have lagged.
Today's calendar is empty, though it's typically the busiest
shopping day of the year. Key global manufacturing data streams
in from China, Europe, and the United States on Monday. Attention
then turns to big employment numbers later next week.
Commodities are trying to bounce today, led by gains of more than
1 percent for copper and silver. Oil is also inching higher and
gold is up almost 1 percent. Agricultural products are
Foreign-exchange trading is very uneventful, with the euro
inching higher and the Japanese yen down fractionally.
In other news today, Standard & Poor's raised its outlook on
Spain's credit rating to stable from negative, citing better
financial metrics. Japanese inflation rose at the quickest pace
since 2008, a potential sign that deflation is ebbing, while
motor-vehicle production increased 10 percent. India and Taiwan
also reported economic-grown numbers that were better than
expected. S&P additionally upgraded Cyprus to B- from CCC+,
saying that its risk of a debt crisis has lessened.
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