Stocks Extend Rally Before Key Labor Data

by devteam June 4th, 2010 | Share

Stock futures ticked higher overnight and look to extend the broad rally which pushed the S&P 2.58% higher yesterday. </p

Ninety minutes before the opening bell, Dow futures are up 29 points to 10,261 and S&P 500 futures are up 3.75 points to 1,100.75. The 2-year Treasury note yield is 2.8 basis points higher at 0.845% while the benchmark 10-year Treasury noteyield is up 4.6 basis points at 3.395%.

NYMEX crude oil futures are up 0.40 to $73.26 per barrel, but Gold futures are down 4.40 to $1,216.20.</p

Global markets are also sharply higher, including a 3.24% gain in Japan’s Nikkei 225 and a 2.21% climb in France’s CAC 40. Most other markets are up more between 1% and 2%. China’s Shanghai index is the outlier, trading lower by 0.73%.</p

The broad inclines occurred despite the overnight news that Euro-zone retail sales fell 1.5% in April, compared to last year, well below economists’ expectations of -0.1%. </p

Offsetting that decline was a large revision to March sales, which was pushed up from -0.1% to +1.3%. On a monthly basis, sales fell 1.2% in April, against expectations of a slight increase. </p

Key Events Today:</p

7:30 â€

About the Author


Steven A Feinberg (@CPAsteve) of Appletree Business Services LLC, is a PASBA member accountant located in Londonderry, New Hampshire.

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