US stock futures were following Europe’s lead higher this morning after Spain and Italy’s successful bond auctions. Traders were also waiting for a string of economic reports and are watching the ECB taking place this morning in Europe. Dow futures are currently up 50 points to 12,438. Nasdaq 100 futures are adding 15 points to 2,382.S&P 500 futures are rounding out the gains adding over 7 points to 1,296.
Europe is back in focus this morning and for once it gives a few pieces of good news. The banking heavy Stoxx 600 Index is up .82% after the successful bond auctions in Spain and Italy. The drop in borrowing costs helped take the pressure off the regions hard-hit banking sector.
Thursday’s economic data calendar is also stacked. At 8:30am the weekly jobless claims report releases and November inventory numbers will be released at 10am. Investors are hoping the jobless numbers continue to show a strengthening labor market.
Corporate news should bring PVH Corp. into focus. The company raised its outlook overnight on the strength of brand performance, specially Calvin Klein. Shares of Chevron are dropping in pre-market trading after the company warned of weakness in downstream business areas.
Overnight trading in Asia was to the downside as investors worried about the upcoming bond auctions in the EU. Inflationary numbers out of China showed a slight easing, but food inflation continues to run rampant. This may give officials there the leverage they need to ease monetary policy to keep Chinese growth strong and prevent a hard-landing.
Commodities, especially precious metals,continue their broad-based rally in 2012. Gold prices are up another percent this morning to $1657 per ounce. Nymex crude oil futures are also up, adding $1.29 to $102 per barrel.
Stocks to watch today include JA Solar Holdings Co., Ltd. (NASDAQ:JASO), Bank of America (NYSE:BAC), Monster Beverage Corp. (NASDAQ:MNST), Dendreon Corporation (NASDAQ:DNDN), Apple Inc. (NASDAQ:AAPL), Sears Holdings Corporation (NASDAQ:SHLD) and Wynn Resorts, Limited (NASDAQ:WYNN)
JA Solar Holdings, Co., Ltd. (NASDAQ:JASO) is up 6.19% in pre market trading at $2.06. Solar stocks may continue their rally from yesterday following reports of stronger demand.According to Digitimes, solar firms are also looking at increasing their prices some due to the higher demand. JASO trades 4.1 million shares a day on average and has a market worth of 319.43 million.
Bank of America Corporation (NYSE:BAC) is up 2.91% this morning at $7.08. Stock futures for the overall market are reacting positiviely this morning causing BAC stock to rise as well. BAC has had a nice run up since the middle of December when it went under $5 breifly. BAC trades 265 million shares a day on average and has a market cap of 69.63 billion.
Monster Beverage Corporation (NASDAQ:MNST) is up 3.08% in pre market trading at $95.25. MNST saw a jump in after hours yesterday as well following news of a 2-1 stock split. This stock split will occur on February 15 and each shareholder holding stock as of February 6 will receive an additional share. MNST trades just over 900 thousand shares a day and has a market cap of 8.05 billion.
Dendreon Corporation (NASDAQ:DNDN) is up 1.81% in pre market trading at $14.61. DNDN has been trending higher for more than a week now after reporting strong Provenge sales in the fourth quarter. DNDN trades 7.7 million shares on average and the company is currently worth 2.14 billion.
Apple Inc. (NASDAQ:AAPL) is up 0.69% this morning at $425.47. Yesterday the Gadsden City Board of Education approved a three-year agreement with Apple that will see 420 iPads and other equipment in their schools. AAPL shares have been trading relatively flat the past couple of days after running up more than $40 a share earlier this month and last month. AAPL trades 14.3 million shares a day on average and has a market cap of 392.72 billion.
Sears Holdings Corporation (NASDAQ:SHLD) is down 9.42% in pre market trading at $29.80. News that Sears suppliers’ loans are to be halted today has sent the stock down this morning. SHLD has an average daily volume of 1.2 million shares and a market cap of 3.52 billion.
Wynn Resorts, Limited (NASDAQ:WYNN) is down 7.31% in pre market trading at $103.71. Late yesterday, Wynn Vice Chairman Kazuo Okada sued the company for access to see the company’s books. Traders reacted negatively to this news this morning after the stock saw a nice $3 rally yesterday. WYNN trades about 3 million shares daily and has a market cap of 13.89 billion.