Futures up as Europe, Asia post gains
Evan McDaniel | email@example.com
The S&P 500 futures moved between positive and negative territory throughout the night, but the June contracts are now higher by 0.21 percent, or 2.75 points, to 1318.50.
The Nasdaq 100 futures are up 5.25 points, or 0.21 percent, to 2548.75. If the NDX can break resistance at 2550, it could bring higher prices depending on the performance of individual components. (See related story)
European indexes gaining, with the U.K. FTSE 100 up 1.03 percent and the German DAX up 0.76 percent. Asia is also higher, with Japan's Nikkei 225 advancing 1.1 percent, the Shanghai composite up 1.06 percent, and Hong Kong's Hang Seng up 0.62 percent.
Despite the strength in Chinese markets, copper futures are off 0.19 percent to 3.4955, still under the 3.50 resistance level. Crude oil is down as well, by 0.1 percent to 92.75, after trading as high as 93.33 and as low as 92.20 following a Fitch downgrade of Japan's sovereign-debt rating.
In the currency market, the dollar is higher and the euro lower. The greenback is up 0.24 percent to 81.42, while the euro is lower by an equal margin of 0.24 percent to 1.2759.
So far the stock market is paying little attention to the euro's weakness. U.S. traders are awaiting April new home sales figures, which are expected to show a slight gain. (See related story)
In stock-specific news, Best Buy is up more than 3.5 percent after beating earnings and revenue expections. U.S. banks are slightly higher as JP Morgan is indicates a positive open after steep declines yesterday.
Apple is up 1.43 percent, or more than $8, to nearly $570. Facebook's shares are unchanged in pre-market trading.