U.S. Stock Futures Rise On Euro Optimism, Stocks to Watch: BAC, MSFT, AMR, AAPL, SIRI, C, PPHM

U.S. Stock futures today gained slightly on optimism coming from the euro zone as a plan to save the euro is becoming more focused as the week wears on. Europe has remained the game changer for the week as investors worldwide are hopeful that positive economic data from the U.S. and the serious tone that European leaders have taken in getting their problems under control, and saving the euro, will move markets forward.

The Dow Jones Industrial Average futures climbed 48 points to 12,160, S&P 500 futures gained 5 points to 1,260 and Nasdaq 100 futures rose 7.5 points to 2,329.

European blue chips rose 0.33%, while the euro fell 0.09% to $1.3386. The U.S. dollar climbed 0.16% against a basket of six world currencies.The English FTSE 100 rose 0.34% to 5,570, and the German DAX gained 0.33% to 6,049.

Energy markets were under pressure from a stronger dollar just ahead of the release of new inventory data from the Energy Department. The benchmark crude oil contract traded in New York fell 7 cents, or 0.07%, to $101.22 a barrel. Wholesale RBOB gasoline slipped 2 cents, or 0.68%, to $2.63 a gallon.

Gold prices today fell $1.20, or 0.07%, to $1,731 a troy ounce. U.S. government bonds were largely unchanged. The benchmark 10-year Treasury note yields 2.091% from 2.093%.

In Asia, the Japanese Nikkei 225 rallied 1.7% to 8,722 and the Chinese Hang Seng jumped 1.6% to 19,241.

Stocks to watch this morning include Bank of America (NYSE:BAC), Microsoft Corporation (NASDAQ:MSFT), AMR Coporation (NYSE:AMR), Apple Inc. (NASDAQ:AAPL), Sirius XM Radio Inc. (NASDAQ:SIRI), Citigroup Inc. (NYSE:C) and Peregrine Pharmaceuticals (NASDAQ:PPHM)

Bank of America (NYSE:BAC) is down about a half percent in pre-market trading at $5.74. BAC closed yesterday slightly down after the markets were shaky much of the day. BAC has traded nearly a million shares already today and trades 270.78 million shares a day on average. BAC is still up $0.75 a share over the past 5 trading days. Bank of America has a market cap of 58.59 billion.

Microsoft Corporation (NASDAQ:MSFT) is down slightly in pre-market trading at $25.62. MSFT trades 51.88 million shares a day on average. MSFT stock is up about $0.50 a share over the past week and has gaped up and then sold off each of the past five trading sessions. The company has a current market cap of 215.86 billion.

AMR Corporation (NYSE:AMR) is up 14.35% in pre-market trading at $0.815. AMR had a wild day yesterday as it was up nearly 100% at one point before settling back down around $0.70. Investors should be aware that AMR is in bankruptcy and the stocks could be delisted sometime soon if the stock price remains below the minimum $1 a share that NYSE stocks have to trade at. Expect AMR to have a lot of action today as the stock has already traded nearly a million shares and trades 31.16 million shares a day on average.

Apple Inc. (NASDAQ:AAPL) is down about a quarter of a percent this morning at $389.99. AAPL trades on average 14.84 million shares a day. AAPL is up more than $10 a share since last Wednesday, but is off its weekly high of around $395 on Monday. Apple Inc. has a market cap of 363.35 billion.

Sirius XM Radio INc. (NASDAQ:SIRI) closed Tuesday down at $1.79. SIRI trades 62.68 million shares a day on average. Over the past week or so, SIRI is still up slightly but is down from a high of over $1.90 last Friday. The company has a market cap of 6.71 billion.

Citigroup Inc. (NYSE:C) is down 1.31% in pre-market trading at $29.36. C trades 57.30 million shares a day on average. The company announced yesterday it will lay off 4,500 workers in the coming months and would also take a $400 million charge to cover severance costs and any other costs related to the job cuts. Citi stock is up more than $3 a share in the past five trading sessions. Citigrou has a market cap of 86.98 billion.

Peregrine Pharmaceuticals (NASDAQ:PPHM) closed Tuesday $0.21 higher at $1.21. PPHM trades 724 thousand shares a day on average. PPHM jumped yesterday after the company’s cancer drug showed positive data. The company has a market cap of 96.24 million.

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Danny is the old hat at Active Investor. One of the been around the block a few times traders, his main focus is on overall market conditions. Be it some new merger talk or Washington being Washington, you can expect Danny will be on top of it.
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