Morning Report: Futures Slightly Higher

by: optionMONSTER

By Bryan McCormick

US stock index futures are fractionally positive ahead of some key economic reports this morning. Asia rose overnight following the powerful move higher on Wall Street yesterday, but European markets however have been down for most of the day and are just now climbing to unchanged.

Currency markets have shown little reaction to the European Central Bank holding steady on rates, with the dollar up to flat on most of the session. Crude has given back some of yesterday's gains, but industrial metals remain firm.


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The pre-market session so far is light in volume on an individual stock level. All that will change following the release of Initial Jobless Claims at 8:30am eastern time, followed by other key reports after the bell.

Burger King (BKC) popped 22 percent after agreeing to be purchased for $23 by 3G, which is pushing Wendy's Arby's Group (NYSE:WEN) is up by about 4 percent. Abercrombie & Fitch (NYSE:ANF) is down over 4 percent after same store-sales for August beat estimates by only 0.1 percentage point. Orexigen Therapeutics (NASDAQ:OREX) rallied 28 percent following a deal announced with Takeda Pharmaceutical (OTCPK:TKPHF) to commercialize its obesity drug Contrave.

Disclosure: No positions