Futures are gaining ground this morning as investors wait for a fresh round of economic data. They are also digesting a new round of earnings which includes Goldman Sachs, which reported higher first quarter earnings but lower revenue numbers. Dow futures are currently up 63 points, Nasdaq futures are up nearly 10 and the S&P futures are adding 7 points.
Europe was also given a temporary reprieve as a closely watched German investor expectations index unexpectedly rose for the fifth straight month. This is allowing investors to brush aside fears of a renewed EU debt crisis. Or at least ignore it for a day or so.
In Asia, markets were mostly in reactionary mode as investors there are concerned over the Spanish debt situation and how it will affect the broader global economy. China also saw foreign direct investment in their country take a hit.
Domestically, the economic data calendar is pretty stacked for the day. Housing starts are expected to be released at 8:30am EST. Industrial production numbers are expected at 9:15am EST.
On the political front, President Obama is expected to slam oil price manipulation. Pretty easy to get rid of. Quit saber rattling in the Persian Gulf and it probably calms down the price action.
Commodities are enjoying an early morning rally. Nymex crude futures are up nearly a dollar to $103.87. Gold prices are also enjoying an uptick in prices – up $5.60 to $1,655 per ounce.
Stocks to watch today include Cheniere Energy, Inc. (AMEX:LNG), Pluristem Therapeutics, Inc. (NASDAQ:PSTI), Sirius XM Radio Inc. (NASDAQ:SIRI), Nokia Corporation (NYSE:NOK), Apple Inc. (NASDAQ:AAPL), First Solar, Inc. (NASDAQ:FSLR) and Intel Corporation (NASDAQ:INTC).
Cheniere Energy, Inc. (AMEX:LNG) is up 4.47% in pre market trading at $17.82. LNG has traded more than 30 thousand shares this already this morning and trades 6.9 million shares a day on average. LNG shares have jumped nearly $3 a share in the past week. The company has a market cap of 2.17 billion.
Pluristem Therapeutics, Inc. (NASDAQ:PSTI) is up 7.31% this morning at $2.35. PSTI has traded 32 thousand shares so far this morning and only trades 81 thousand shares a day on average. Pluristem Therapeutics received FDA clearance for Phase 2 clinical trial Intermittent Claudication. The company has a market cap of 98.45 million.
Sirius XM Radio Inc. (NASDAQ:SIRI) is up 1.38% in pre market trading at $2.20. SIRI has traded 10.5 thousand shares this morning and trades 55.1 million shares a day on average. SIRI shares have been in a bit of a downtrend over the past week, losing about $0.15 a share in that time. The company has a market cap of 8.15 billion.
Nokia Corporation (NYSE:NOK) is down about 1% this morning at $4.05. NOK has taken a nearly $1 a share hit in the past week as a software glitch overshadowed the U.S. launch of the Lumia 900. The company has a market cap of 15.17 billion.
Apple Inc. (NASDAQ:AAPL) is up 0.51% this morning at $583.30. AAPL has traded 155 thousand shares this morning and trades 21.9 million shares a day on average. AAPL shares have dropped more than $50 a share in the past week. Investors will be watching Apple closely as it releases earnings later this month. The company has a market cap of 540.90 billion.
First Solar, Inc. (NASDAQ:FSLR) is down 1.49% this in pre market trading at $20.51. FSLR trades 5.9 million shares a day on average. First Solar announced today that it will cut 2,000 jobs. FSLR shares are down more than $3 a share in the past week. The company has a market cap of 1.80 billion.
Intel Corporation (NASDAQ:INTC) is down 0.02% in pre market trading at $28.40. INTC has traded 23 thousand shares this morning and trades 39.8 million shares a day on average. INTC shares have rallied about $1 a share in the past week. The company has a market cap of 141.91 billion.
About Danny Fisher
