Stock futures this morning are looking to extend their bullish run for the quarter. The Nasdaq alone has had its best performing quarter since 1998. Guess they can thank Apple for that one. Dow futures are up 60 points in pre-market trading to 13,138. Nasdaq 100 futures are up 13.75 points to 2,772. The S&P 500 futures are rounding out the bullish pre-market, up 7.25 to 1,405.50.
Analysts that are looking for a short-term correction may have to wait a bit longer. An equity researcher an Danske Research thinks that stocks will continue to drift higher on into the second quarter as long as conditions stay the same or see some more slight improvement.
Gains on the market have been tempered by fresh concerns over Europe. Their lack of a true resolution will continue to haunt the markets through the rest of the year. Add in Chinese concerns over a hard-landing and consistent misses on economic data coming out of the United States and you have to wonder how much longer the good times will roll. Investors seem to be counting on the Fed, who is more than willing to jump in at the first sign of trouble.
Over in Europe, finance ministers are expected to meet today to agree upon an expanded EU firewall for their sovereign debt crisis. Meanwhile, the Greek PM said that a third bailout could not be ruled out. SO look for the part 3 of that little aga sometime later this year. [Read more...]