U.S., Europe markets reverse higher
Evan McDaniel | email@example.com
The S&P 500 futures are up 5.50 points, or 0.42 percent, to 1305.75 as it holds above support of 1300. The Nasdaq 100 future is higher by 11 points, or 0.44 percent, to 2521.50 after trading as low at 2514 earlier in the pre-market.
European indexes are higher as well, with the German DAX up 0.54 percent and the U.K. FTSE 100 higher by 0.4 percent.
The U.S. and European indexes are being buoyed by a weaker dollar. U.S. dollar futures are lower by 0.07 percent to 82.91, while the euro is up 0.07 percent against the greenback.
Copper futures are lower by 0.15 percent to 3.3375 but well off their low of under 3.31. Crude-oil futures are also off fractionally at 83.33 after hitting an eight-month low of 81.07. Spot gold futures are slightly lower by 5.80 points to 1591.00.
We are looking for a risk-on scenario to greet traders as the open of cash markets approaches as long as the euro continues to move higher over support of 1.248. Crude-oil support is now 82, with gold likely to continue to drip lower.
Asian indexes did not fair as well as the European markets despite the stimulus hopes. Japan's Nikkei 225 closed lower by 1.02 percent, while Hong Kong's Hang Seng fell 0.43 percent.
In stock-specific news, Freeport-McMoRan is trading higher as spot copper prices recover. Apple and Facebook are also gaining.