Benzinga | Jun 10, 2013 07:51AM ET
U.S. equity futures rose in early pre-market trade after Japanese stocks bounced back from a bear market overnight. The benchmark Nikkei 225 Index rose almost 5 percent overnight following better than expected economic data which points to a recovery being fueled by the non-traditional stimulus measures of the new regime.
Top News
In other news around the markets:
Asian shares were mixed overnight as Japanese equities rallied sharply despite lackluster Chinese economic data. The Japanese Nikkei 225 Index closed higher by 4.94 percent, the largest one-day gain since March, and the Topix Index gained 5.21 percent. Also, the Korean Kospi gained 0.46 percent while Australian shares declined 0.91 percent.
European Markets
European shares were mixed in early trade led by German equities which now returned to the green over the past month following the move. The Spanish Ibex Index rose 0.1 percent and the Italian FTSE MIB Index fell 0.16 percent. Meanwhile, the German DAX rose 0.8 percent and the French CAC 40 dropped 0.02 percent as U.K. shares rose 0.02 percent.
Commodities
Commodities were mostly lower overnight following the renewed round of dollar strength led by declines in the yen and also on the weak China data from over the weekend. WTI Crude futures fell 0.29 percent to $95.75 per barrel and Brent Crude futures declined 0.25 percent to $104.50 per barrel. Copper futures dropped 1.16 percent to $323.05 per ounce. Gold was lower and silver futures fell 1.23 percent to $21.48 per ounce.
Currencies
Currency markets had one theme overnight, yen weakness, as the dollar gained over 1 percent against the Japanese currency. The EUR/USD was marginally lower at 1.3214 and the dollar gained against the yen to 98.70. Overall, the Dollar Index rose 0.26 percent on strength against the yen, the British pound, the Swiss franc, and slight strength against the euro. Notably, the Aussie dollar continued its string of declines, falling 0.76 percent against the U.S. dollar to 0.9425 after having made a fresh low of 0.9397.
Earnings Reported Yesterday
Key companies that reported earnings Friday include:
Stocks moving in the pre-market included:
Notable companies expected to report earnings Monday include:
On the economics calendar Monday, Canadian housing starts and the U.S. CB Employment Trends Index are due out followed by the TD Ameritrade Investor Movement Index. Also, the Fed's James Bullard is set to speak and the Treasury will hold its weekly 3- and 6-month bill auctions. Overnight, the Bank of Japan will update the markets on its current stimulus programs in its interest rate decision and accompanying policy statement.
BY Matthew Kanterman
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.