By Bryan McCormick
U.S. stock index futures are higher ahead of this morning's key employment report. Trading volumes are extremely light and will likely remain that way until the government's job data is released at 8:30 a.m. ET.
Asian markets closed mostly higher overnight, with the exception of losses in Japan. India and China released data that showed growth in factory orders.
In Europe stocks snapped back from yesterday's declines. The rise in shares came despite weaker factory data from surveys across Europe and the United Kingdom. The drop in orders was coupled with higher prices paid.
In currency markets the dollar edged higher from recent lows. The euro and dollar were essentially flat while the yen plunged, and the Canadian dollar was the strongest.
The rise in the U.S. dollar is having little to no impact on commodity prices so far, with mixed results across commodity categories. But the slowdown in European factory data is pressuring industrial metals, with copper falling sharply in recent trading.
Precious metals retreated from yesterday's larger gains. Agricultural commodities were mixed, with corn outperforming to the upside.
Energy prices continue to move higher, pushing crude past the $107 level. There is a bullish price pattern in crude that has upside potential to the $114 area.
In stock-specific news, Nasdaq OMX and Intercontinental Exchange made a joint bid for NYSE Euronext at $43.50 per share, countering the earlier bid from Deutsche Boerse. In the pre-market NYSE shares were up but well under the new offer price.
Going in the opposite direction this morning is Logitech. The company lowered its outlook last night, and the shares are down more than 19 percent this morning.
As we head into earnings season proper next week, Bed Bath & Beyond and Monsanto will report on Wednesday. Constellation Brands (STZ) will report on Thursday.
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