Benzinga | Apr 11, 2013 07:41AM ET
U.S. equity futures rose in early trade Thursday as global shares gained on new stimulus rounds. Asian shares rallied and European shares gained for the third straight day as sovereign bond yields on peripheral nations declined.
Top News
In other news around the markets:
Asian shares were mostly stronger once again led by Japan as the Bank of Japan's uber-aggressive policy drives shares higher. The Japanese Nikkei Index rose 1.96 percent and the Shanghai Composite Index slid 0.29 percent and the Hang Seng Index rose 0.3 percent. Also, the Korean Kospi gained 0.73 percent and Australian shares rose 0.79 percent.
European Markets
European shares were also higher overnight as Cyprus reportedly signed its Memorandum of Understanding with the Troika, paving the way for bailout funds to flow into the country as soon as possible; reports also circled that Cyprus may sell its gold holdings to fund some of the bailout. The Spanish Ibex Index rose 0.08 percent and the Italian FTSE MIB Index rose 0.53 percent. Meanwhile, the German DAX rose 0.55 percent and the French CAC rose 0.6 percent and U.K. shares gained 0.31 percent.
Commodities
Commodities were lower overnight as energy futures declined on reports that domestic oil demand is slowing. WTI Crude futures slipped 0.17 percent to $94.46 per barrel and Brent Crude futures fell 0.23 percent to $105.60 per barrel. Copper futures declined 0.39 percent to $340.40 on the weak Australian data but also on continued supply fears in the copper market. Gold was lower on the Cyprus gold sale news and silver futures slid 0.7 percent to $27.43 as investors rotated out of precious metals and into risk assets.
Currencies
Currency markets were rather quiet after days of strong movements, particularly in the yen crosses. The EUR/USD was higher at 1.3087 and the dollar fell against the yen to 99.56 after rising as high as 99.86. Overall, the Dollar Index fell 0.27 percent on weakness against the euro, the yen, the pound, the Canadian dollar, and the Swiss franc. Notably, the Australian dollar was stronger overnight despite the weak employment data as the AUD/JPY held above 105.
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, Initial Jobless claims, import prices, and export prices are all due out at 8:30 am eastern. Also, the Treasury is set to auction 30-year bonds and Charles Plosser and James Bullard of the Fed are expected to speak. Overnight, there is not much key data to move markets and eyes will be on reports out of Japan following the Bank of Japan's meeting with market makers.
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