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At 8AM EDT:

U.S. Market Futures

S&P 500: +0.59%; 1,279.80 (+7.50)
NASDAQ: +0.74%; 1,507.00 (+11.00)
DOW: +0.58%; 11,184.00 (+64.00)

International Indexes

Asia:
NIKKEI 225: +1.45%; 15,790.82 (+225.80)
HANG SENG: +0.23%; 17,290.01 (+40.06)
S&P/ASX 200: +0.45%; 4,971.30 (+22.10)
BSE SENSEX 30: +1.08%; 11,312.99 (+120.53)

Europe:
FTSE 100: +0.80%; 5,866.60 (+46.50)
CAC 40: +1.10%; 5,040.34 (+54.82)
XETRA-DAX: +1.05%; 5,687.28 (+58.91)

Commodity Futures (Reuters/Jefferies CRB Movers)

Oil: -1.83%; 72.99 (-1.36)
Gold: -1.15%; 637.00 (-7.40)
Natural Gas: -4.04%; 6.98 (-0.29)
Silver: -00.88%; 11.780 (-0.105)

Asian Headlines (via DealingFloor)

- Asian Stocks Rise, Led by Nissan (OTCPK:NSANY), Exporters on Weaker Regional Currencies
- Crude Oil Falls as Lebanon Cease-Fire Nears, BP (NYSE:BP) Keeps Alaskan Oil Flowing
- Richard Li to Bid for China Network Systems Stake, Commercial Times Says
- Philippines’ Arroyo Says Plan to End Budget Deficit Is Ahead of Schedule
- Euro May Add to Its Record Gains Against Yen on Slower BOJ Rate Increases
- Indonesia’s GDP Growth Probably Quickened in Quarter on Commodities Demand
- Retail Sales in New Zealand Unexpectedly Rise on Increased Jobs and Wages
- Rice Poised to Climb 100 Percent by 2008, Hurting Anheuser-Busch, Kellogg
- Toyota (NYSE:TM), Asian Automaker Stocks Seen Leading GM (NYSE:GM), Ford (NYSE:F) Shares in Second Half
- China Retail Sales Grow 13.7 Percent as Incomes Rise

Europe: In Play Today (via DealingFloor)

- Earnings today: Rodamco Europe, Hochtief & QCells.

- BAE Plc: The U.K.’s largest defense contractor may announce the sale of 72 Eurofighter Typhoon jets to Saudi Arabia for 5 billion pounds ($9.5 billion) this week, the Times reported, citing no one.

- BP Plc (BP): The world’s third-largest oil company by market value will keep pumping crude from the western half of Alaska’s Prudhoe Bay, the largest U.S. oil field, while it replaces corroded pipe on the eastern half.

- Deutsche Telekom AG (DT): Europe’s largest telephone company plans to lower prices for fixed-line and mobile-phone services to help it become the cheapest provider in those markets, Frankfurter Allgemeine Zeitung said.

- Royal Ahold NV: Centaurus Capital Ltd. is leading a group of private-equity and trade investors preparing an 11 billion-euro ($14 billion) bid for Ahold, the owner of the U.S. Stop & Shop supermarket chain, the Business reported yesterday, citing unidentified people close to the situation. Centaurus has been in talks with Ahold Chief Financial Officer John Rishton about options including breaking up Ahold or selling part to Supervalu Inc., the Business said.

US: In Play Today (via DealingFloor)

- Labor Costs Accelerate, Threaten Longest U.S. Earnings Streak in 40 Years

- Crude Oil Falls as Lebanon Cease-Fire Nears, BP Keeps Alaskan Oil Flowing

- This past week also represented the end of the heavy earnings reporting season. About 90% of the S&P 500 companies have reported. The gain in operating earnings now looks to come in close to 16% over the second quarter of last year. That is an impressive performance. Energy and financial sectors posted the strongest gains.

Source: Oil Down 2%, Market to Open Higher