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Morning Wire -- US Stock-Index Futures Slightly Higher

US index futures are slightly higher this morning following two down days. The main prop for the indexes is the hope that Greece will finally settle its debt deal. The thin gains in the indexes mirror the slim hopes. Yesterday’s report from the Fed that US consumer credit had jumped by $19 billion indicates that consumer spending may be getting back on track, and that’s a positive for the economy. In Asia, Toyota Motor Co. (NYSE: TM) raised its sales forecast for 2012, giving Asian markets a boost today. The Chinese government also boosted prices for gasoline and diesel fuel, raising the outlook for China’s large producers and refiners.

At about 8:15 a.m. ET, Germany’s DAX is up 0.72% at 6,802.75 and France’s CAC 40 is up 0.50%, at 3,428.60. In London, the FTSE 100 is up 0.06%, at 5,893.60.

In Asia, the Hang Seng index closed up 1.54%, at 21,018.50 and the Nikkei index closed up 1.10%, at 9,015.59. The Shanghai exchange closed up 2.43%, at 2,347.53.

Dow futures are up 0.18%, at 12,854.00. The Nasdaq 100 is up 0.18%, at 2,533.75 and the S&P is up 0.08%, at 1,345.80.

In the currency markets, the US dollar is weaker against the British pound and the euro, and stronger versus the Japanese yen. The US dollar index is down -0.084% at 78.487.

In commodities, WTI and Brent crude are higher this morning, with WTI up 0.87% at $99.27/barrel and Brent is up 0.26% at $116.53/barrel. Gold is down -0.11% this morning, at $1,746.50/ounce.

Paul Ausick

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