Stock Futures Pointing To Higher Open On Wall Street

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Here’s a brief look at the pre-market action…

• Asia was mixed overnight but leaning toward the green side, with markets up averagely +0.6%.

• Shanghai’s composite index finished with its best January gain since 2009 on a report that the Chinese government may encourage pensions to invest in equities.

• Europe is rallying strongly off the EU summit news and optimism on a Greek debt deal, although Portugal now taking center stage as a concern. European shares up about +1.0% now. The EU agreed to tighter budgetary controls and a start to the ESM July 1 of 2012.

• Earnings heat up again with XOM and AMZN two of the bigger names.

• Housing, Chicago PMI and Consumer Confidence reports are later this morning.

• U.S. futures are currently higher, with the S&P up about +6 and the Dow +50 as we write this.

Good Trading!
David W. (aka The Underground Trader)

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