US Stock Futures Up Ahead Of ECB Meeting

Monica Gerson, Benzinga Staff Writer

June 06, 2012 5:25 AM

Tickers: BF-B, HOV, MFRM, MIND, MTN, MW, PLL, THO, ULTA

US stock futures are higher this morning, as investors are awaiting a policy decision by the European Central Bank. Futures for the Dow Jones Industrial Average jumped 94 points to 12,220.00 and S&P 500 index futures rose 11.20 points to 1,296.30. Nasdaq 100 futures gained 22.25 points to 2,511.00.

US stocks closed higher on Tuesday, with the Dow Jones Industrial Average rising 0.22% to 12,127.95, the S&P 500 index gaining 0.57% to 1,285.50 and the Nasdaq 100 index surging 0.66% to 2,778.11.

Data on Q1 productivity and unit labor costs will be released at 8:30 a.m. ET. The Federal Reserve's Beige Book report on the US economy will be released at 2 p.m. ET. The ECB is scheduled to announce its policy decision at 7:45 a.m. ET.

Vail Resorts Inc (NYSE: MTN) is projected to post its Q3 earnings at $2.19 per share on revenue of $417.43 million. Brown-Forman Corporation (NYSE: BF-B) is expected to post its Q4 earnings at $0.76 per share on revenue of $804.94 million.

Pall Corp (NYSE: PLL) is expected to post its Q3 EPS at $0.80 on revenue of $725.17 million. Hovnanian Enterprises Inc (NYSE: HOV) is expected to post a Q2 loss at $0.32 per share on revenue of $298.99 million.

Thor Industries Inc (NYSE: THO) is estimated to post its Q3 EPS at $0.79 on revenue of $925.38 million. The Men's Wearhouse Inc (NYSE: MW) is estimated to post its Q1 EPS at $0.55 on revenue of $593.90 million.

Mattress Firm Holding Corp (NASDAQ: MFRM) reported downbeat first-quarter revenue. The company also announced its plans to buy Mattress Giant for $47 million in cash.

Ulta Salon Cosmetics & Fragrance Inc (NASDAQ: ULTA) reported a 50% surge in its fiscal first-quarter earnings.

Mitcham Industries Inc (NASDAQ: MIND) reported downbeat first-quarter results.

European markets were higher today. The STOXX Europe 600 Index rose 1.53%, London's FTSE Index surged 1.23%, French CAC 40 index rose 1.80% and German DAX 30 index gained 1.56%.

Asian markets ended mostly higher, with Japan's Nikkei Stock Average gaining 1.81%, China's Shanghai Composite dropping 0.10% and Australia's S&P/ASX 200 moving up 0.30%. Hong Kong's Hang Seng index gained 1.43% and India's Sensex surged 2.52%.

Nymex crude-oil futures gained $0.88 to trade at $85.17 a barrel, while gold futures climbed $17.90 an ounce to $1,634.80.

The dollar index dropped 0.4% to trade at 82.570. The euro surged 0.5% versus the US dollar to trade at $1.2504.

The US dollar rose 0.4% against the Japanese yen to trade at ¥79.07.

Tags: European Central Bank, US Stock Futures

Posted in: News, Futures, Global, Pre-Market Outlook, Markets