A Peek Into The Market Before The Trading Starts

US stock futures are mostly higher this morning as investors are awaiting earnings report from several companies. However, shares of Apple Inc

dropped in pre-market trading. Futures on the Dow Jones Industrial Average rose 38 points to 11,763 and S&P 500 futures gained 1.40 points to 1,291. However, futures on the Nasdaq 100 dropped 15 points to 2,305.

Positive sentiment ruled the European markets today. While STOXX Europe 600 Index has advanced 0.88%, London's FTSE 100 Index moved up 1.10%. Mostly Asian markets ended in the positive territory, with Japan's Nikkei Stock Average gaining 0.15%, Australia's S&P/ASX 200 moving up 0.80% and China's Shanghai Composite rising 0.09%.

Jefferies & Co. is reiterating its Buy rating and $450 price target on shares of Apple Inc.

after Steve Jobs announced he was taking a medical leave yesterday. In a note to clients, Jefferies writes, "Steve Jobs is taking a medical leave of an indeterminant nature with an unkown length. While this creates uncertainty, we believe the product pipeline is set for the next two years and Apple's bench strength has come through before. We would use weakness as a buying opportunity. Reiterate Buy and $450 target." Shares of AAPL are off $15.71 to $332.77, a loss of 4.5% in pre-market trading.

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