Morning Wire — US Stock-Index Futures Slightly Higher

US index futures are slightly higher this morning, but they have been losing ground steadily. In Europe, yields on Spanish bonds are up again, which combines an ever stronger belief that additional easing is unlikely in the US to weigh on equity prices. In Asia, weak data on the global economy and a decision by the Bank of Japan not to initiate further easing have depressed markets.

At about 8:15 a.m. ET, Germany’s DAX is down -1.05% at 6,703.81 and France’s CAC 40 is down -1.55% at 3,268.36. In London, the FTSE 100 is down -0.93%, at 5,670.45.

In Asia, the Nikkei closed down -0.09% at 9,538.02. The Hang Seng index closed down -1.15% at 20,356.20 and Shanghai closed up 0.88% at 2,305.86.

Dow futures are up 0.16%, at 12,870.00. The Nasdaq is up 0.34%, at 2,737.75 and the S&P is up 0.15%, at 1,376.90.

In the currency markets, the US dollar is weaker against the euro and and the Japanese yen, but stronger versus the British pound. The US dollar index is up 0.04% at 79.765.

In commodities, WTI and Brent crude are lower this morning, with WTI down -0.54% at $101.91/barrel and Brent is down -0.97% at $121.48/barrel. Gold is up 0.24% this morning, at $1,647.80/ounce.

Paul Ausick