Global markets up ahead of U.S. data
Evan McDaniel | email@example.com
World equity indexes are higher ahead of key U.S. economic data, including that are expected to show a gain for the first time in three months.
S&P 500 futures are up 2.25 points, or 0.16 percent, to 1404.75 as of this writing. The Nasdaq 100 futures are higher by 4 points, or 0.15 percent, to 2732.
European indexes are in positive territory, with the German DAX up 0.71 percent after Germany's GDP rose 0.3 percent from the first quarter. The U.K. FTSE 100 is higher by 0.41 percent.
Asian indexes rallied as well. Hong Kong's Hang Seng closed strongest with a gain of 1.05 percent, while Japan's Nikkei 225 rose 0.5 percent.
Currency markets are favoring the euro this morning as the euro/dollar pushed higher by 0.11 percent to 1.2352. The U.S. Dollar Index is down 0.05 percent at 82.445 but well off its session lows.
As long as the dollar remains weak and the euro remains stable and above its lows, the equity indexes have a good shot at continuing to advance. For the S&P 500, that could mean a move above the 1410 level.
The weak dollar is also helping commodity markets, as crude oil futures are gaining 0.26 percent to 92.97. Copper futures are off their highs but still up 0.22 percent at 3.361. Spot gold futures are off their high of 1618.90 to 1614, a gain of 1.40 points, or 0.09 percent.
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