Morning Wire — US Futures on the Rise

US stock futures are rising somewhat this morning, but markets haven’t quite figured out yet how to price in the effects of the death of North Korea’s Kim Jong Il. Asian markets have lost ground today, while European markets have weathered the storm following Fitch Ratings’ warning on France. In the US, consumer spending is very strong, both at brick-and-mortar stores and online, which should put some air under US equities today. A report on new home building is due this morning, and no change from last month is expected. US 10-year Treasury yields have hit a new two-month low as the US dollar returns to the fore as a safe haven.

At about 7:30 a.m. ET, Germany’s DAX is up 1.23% at 5,771.88 and France’s CAC 40 is up 1.04%, at 3,003.17. In London, the FTSE 100 is up 0.32%, at 5,404.38.

In Asia, Hong Kong’s Hang Seng index is down -1.18%, at 18,070.20. The Nikkei index is down 1.26%, at 8,296.12, and the Shanghai index is -0.3%, at 2,218.24.

Dow futures are up 0.47%, at 11,833.00. The Nasdaq 100 is up 0.69%, at 2,248.00 and the S&P is up 0.59%, at 1,218.10.

In the currency markets, the US dollar is stronger against the euro, the British pound, and the Japanese yen.

In commodities, both WTI and Brent crude are higher this morning, with WTI at $93.97/barrel and Brent at $104.14/barrel. Gold is down -0.2%, at $1,594.70.