Futures higher after Friday's sell-off

With not much news on the economic front but more major earnings, Wall Street looks ready to recover.

By Benzinga Oct 22, 2012 8:26AM

Zurbar age fotostockU.S. stock futures traded slightly higher on Monday after Friday's dramatic sell-off. Stocks in Europe and Asia traded largely flat as there was little major economic news affecting the global economy.


In Japan, trade balance came in lower than expected at -980 billion yen versus the -740 billion yen that was forecast.

And Spain's Prime Minister Rajoy won a political victory over the weekend as his party won a victory in a regional election.

There are no major economic releases on the U.S. economic calendar Monday. However, there will be three- and six-month bill auctions in the U.S. and France.

See more of Benzinga's market news here.

Asian Markets

Asian shares were mixed on Monday. Japan's Nikkei index gained 0.09% and the Hong Kong Hang Seng rallied 0.68%, while the Australian index fell 0.7%.


European Markets

European shares were trading slightly to the downside. The London FTSE traded down 0.16% while the German Dax dropped 0.11%.


Commodities

Commodities showed slight strength early Monday. WTI crude oil traded back above $90 a barrel, while gold traded near $1,725.


Currencies

The U.S. dollar showed weakness against European currencies early Monday, as both the euro and the pound gained against it. Yet, the dollar was strong against Asian currencies, rallying against both the yen and the Australian dollar.


Earnings

  • Caterpillar (CAT)
  • Freeport-McMoRan (FCX)
  • Hasbro (HAS)


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1Comment
Oct 22, 2012 10:10AM
avatar
As it looks more and more like the moronic  socialist Obama is going to lose the Market will rally.

Free market capitalism is the still the best path to prosperity.  

Ending Obamanomics of Borrowing, Printing, Spending and Taxing must be the number one objective of real Americans.
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