Benzinga | Jun 06, 2013 07:37AM ET
U.S. equity futures rose in early pre-market trade ahead of key interest rate decision from both the European Central Bank and the Bank of England. Also, the initial jobless claims report in the U.S. and the Challenger job cuts estimate set up the stage for Friday's much anticipated Employment Situation Report.
Top News
In other news around the markets:
Asian shares were lower overnight as the Nikkei dropped to a two and a half week low. The Japanese Nikkei 225 Index declined 0.85 percent and the broad Topix Index declined 1.77 percent. The Shanghai Composite Index shed 1.12 percent as the Hang Seng Index lost 1.05 percent. Also, the Korean Kospi declined 1.52 percent and Australian shares fell 1.12 percent.
European Markets
European shares were less pessimistic in early trade ahead of the central bank decisions as Spanish shares following the strong debt auction and other data earlier this week. The Spanish Ibex Index gained 0.77 percent while Italian shares dipped 0.12 percent. Meanwhile, the German DAX rose 0.13 percent and the French CAC 40 Index gained 0.28 percent as U.K. shares eked out a gain of 0.03 percent.
Commodities
Commodities were mixed overnight as energy futures gained following the crude inventory report Wednesday which showed crude inventories declined nearly eight times the expected drop in the week. WTI Crude futures rose 0.63 percent to $94.33 per barrel and Brent Crude futures gained 0.36 percent to $103.41 per barrel. Copper futures declined 0.86 percent to $334.25 per pound as global growth fears weighed. Gold was higher and silver futures fell 0.03 percent to $22.47 per ounce.
Currencies
Currency markets saw good action overnight as the euro and the pound set up nicely ahead of their respective central banks. The EUR/USD was higher at 1.3118 and the dollar gained slightly against the yen to 99.15. Overall, the Dollar Index fell 0.2 percent on weakness against the pound, the euro, the Canadian dollar, and the Swiss franc.
Earnings Reported Yesterday
Key companies that reported earnings Wednesday include:
Stocks moving in the pre-market included:
Notable companies expected to report earnings Thursday include:
On the economics calendar Thursday, the Bank of England and the European Central Bank are both expected to release their interest rate decisions early this morning. Later, the Challenger job cuts report is due out with the weekly jobless claims report and the Canadian Ivey PMI is expected to be released. Overnight, German industrial production data is due out.
BY Matthew Kanterman
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