Benzinga | Feb 07, 2013 07:47AM ET
U.S. equity futures rose in pre-market trading as the euro rallied and European stocks gained. Markets await the interest rate decisions from the Bank of England and European Central Bank, due out later this morning.
Top News
In other news around the markets:
Asian shares were lower overnight despite the strong Australian employment report as weak earnings from companies such as Sony (SNE) weighed. The Japanese Nikkei Index fell 0.93 percent and the Shanghai Composite Index fell 0.66 percent and the Hang Seng Index fell 0.34 percent. Also, the Korean Kospi declined 0.23 percent and Australian shares rose 0.3 percent.
European Markets
European shares were higher despite the rise in bond yields in early trade ahead of the Bank of England and the European Central Bank rate decisions. The Spanish Ibex Index gained 0.84 percent and the Italian FTSE MIB Index rose 0.76 percent with strength seen in energy and industrial stocks. Meanwhile, the German DAX rose 0.25 percent and the French CAC rose 0.34 percent while U.K. shares rose 0.09 percent.
Commodities
Commodities were mixed overnight with energy futures gaining and metals futures declining. WTI Crude futures rose 0.3 percent to $96.91 per barrel and Brent Crude futures rose 0.74 percent to $117.59 per barrel. Copper futures rose 0.19 percent on the Australian payrolls data. Gold was lower and silver futures fell 0.29 percent to $31.79 per ounce.
Currencies
Currency markets were in a slight risk-on mode overnight as the euro gained and the yen declined. The EUR/USD was higher at 1.3568 and the dollar gained against the yen to 93.88. Overall, the Dollar Index fell 0.16 percent on weakness against the euro, the pound, the Swiss franc, and the Canadian dollar. The Australian dollar was also strong against the greenback and it gained against the yen but declined slightly against the euro.
Pre-Market Movers
Stocks moving in the pre-market included:
Notable companies expected to report earnings Thursday include:
On the economics calendar Thursday, chain store sales, initial jobless claims, and non-farm productivity and costs are due out. Also, the EIA natural gas report and consumer credit data are expected. Speeches from Fed members Charles Evans and Jeremy Stein could also move markets and the Fed Balance Sheet and Money Supply update will be released after the close. Overnight, Chinese inflation data and the latest German trade balance should move markets.
BY Matthew Kanterman
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