News Summary for June 10, 2011

This is your Benzinga news summary and traders' outlook for Friday, June 10, 2011, covering headlines from overnight and Friday's pre-market session. Today in domestic pre-market trading, U.S. equity futures are trading lower as traders take gains after the markets traded higher yesterday. The U.S. dollar is trading slightly higher this morning after ending yesterday's session higher. Overseas last night, the euro fell slightly against the dollar, continuing its fall after European Central Bank's Trichet hinted at a rate hike as early as July. Asian stocks ended their sessions lower, led by profit-taking in the technology sectors. Both commodities and stocks responded to China's trade data, which showed that the country's surplus has widened less than analysts had estimated. On the economic calendar today, reports on Import Prices are set to be released at 8:30 a.m. ET. Later this afternoon, the U.S. Monthly Budget Statement for May is due at 2:00 p.m. Yesterday, U.S. treasury prices fell after six consecutive days of declines. The Treasury's auction of 30-year bonds showed minimal demand. Earlier this morning, athletic apparel maker Lululemon

reported an earnings and revenue beat and raised 2012 fiscal year guidance. On the commodity front, gold and silver futures are slightly lower on the session. Likewise, crude oil and gasoline futures are trading lower this morning. Natural gas is a notable commodity mover on the positive front: up nearly 1% on the session. In corporate news, foreign car maker Toyota

expects a larger-than-expected drop in annual profit. The company guided a 35% fall in profit because of the April earthquake and stronger yen. Finally, in foreign news, Canada's unemployment rate came in at 7.4% below the 7.6% estimate. The better than expected news pushed the U.S. dollar lower versus the Canadian dollar. This concludes your news summary for June 10, 2011.