Benzinga | Dec 06, 2012 03:53AM ET
U.S. equity futures rose in early Thursday trading on hopes that a budget deal can be reached in Washington. Now that both parties have submitted proposals, investors know that any deal will come in between the two proposals.
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In other news around the markets:
Asian shares were mixed overnight as Chinese stocks slipped while other regional indices rose. The Japanese Nikkei Index rose 0.81 percent while the Shanghai Composite Index fell 0.13 percent and the Hang Seng Index fell 0.09 percent. In addition, the Korean Kospi rose 0.13 percent and Australian shares fell 0.24 percent.
European Markets
European shares were higher in early Thursday trade as hopes of a U.S. budget deal boosted stocks despite reports that the eurozone is in a recession officially. The Spanish Ibex Index rose 0.41 percent and the Italian MIB Index rose 0.39 percent in early trade. Meanwhile, the German DAX climbed 0.95 percent and the French CAC rose 0.49 percent and U.K. shares gained 0.16 percent.
Commodities
Commodities were mixed overnight with energy futures rising and metals falling. WTI Crude futures rose 0.25 percent to $88.10 per barrel and Brent Crude futures rose 0.17 percent to $109.00 per barrel. Copper futures fell 0.34 percent to $367.40 overnight as investors feared that Freeport McMoRan's (FCX ) shares continued to slide following a guidance cut pre-market, falling an addition 4.74 percent Thursday morning.
Notable companies expected to report earnings Thursday include:
On the economics calendar Thursday, it's Thursday and that means jobless claims are due out. In addition, Challenger Job Cuts are due out and the Quarterly Services Survey will add further clarity on the state of the service sector. In addition, the Bank of England and the European Central Bank rate decisions are due out at 7:00 and 7:45 am eastern respectively followed by ECB President Mario Draghi's press conference at 8:30 am.
By Matthew Kanterman
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