US markets are expected to open higher this morning after staging an afternoon rally in yesterday's session. There is positive news from overseas this morning, with better than expected economic indicators from Europe and the Chinese government announcing an increase in spending. In pre-market trading, the S&P 500, NASDAQ and Dow Jones are all about 0.4% higher.
Asian stocks rebounded in the overnight session, led higher by the very same Shanghai SEC that dropped like a stone yesterday. China's real estate sector remained weak in the wake of aggressive policies that were announced over the weekend, but most other Chinese stocks rose after the government announced a 2013 economic plan that calls for continued stimulus spending. The Mumbai Sensex rose 1.4% and the Australian All-Ordinaries gained 1.2%, while the Japanese Nikkei was only barely in positive territory.
In Europe, every major index in the region is in the green so far this morning. Euro-zone PMI is still contracting, but today's reading came in better than expected for February. January retail sales also surpassed expectations, lifting hopes that the region's troubles could be slowing. The German DAX is leading the way higher, up 1.7% at last check, followed by the French CAC 40, the Swiss Market Index and the Euronext 100, which are all higher by more than 1%.
In the commodities pits, energy futures are headed higher this morning. West Texas crude is up 0.5% to $90.56 after a big drop yesterday. Heating oil and gasoline are also higher, while natural gas is up 1.3%. Precious metals are all advancing, with gold futures up 0.6%, and platinum, palladium, and copper all gaining more than 1%. In currencies, the US Dollar is stronger against the Swiss Franc, but weaker versus the Euro and the Yen.
In pre-market trading, Sears Holdings (SHLD), Navistar (NAV), ITT Tech (ESI) and Texas Industries (TXI) are higher, while H&R Block (HRB), Target (TGT), Keryx Biopharmaceuticals (KERX) and CBS (CBS) are lower.
Brent Archer is the Content Director at Fresh Brewed Media. Brent is at heart a numbers guy who lives to dig through option chains and sift through hundreds of potential trades to find the best ones available. He received his undergraduate degree from Drew University in Computer Science and has been instrumental in the development of Investors Observer's proprietary options research technology that can help identify ideal options trades for almost any stock. These tools are used by investors at firms like Fidelity, TD Ameritrade, and Ameriprise through Investors Observer's partnership with Standard & Poor's. Follow Brent on Twitter @BrentArcher_MIC.