A Peek Into The Market Before Trading Starts

US stock futures climbed today, as worries over Spain's financial condition dissipated after the successful action of Spanish bonds.

Europe has opened strong today, with all the major markets in the positive territory. While STOXX Europe 600 Index has gained 0.46%, London’s FTSE 100 Index has moved 0.74%. Most Asian markets ended in the red after a volatile session. Japan's Nikkei Stock Average and Australia's S&P/ASX 200 lost about 0.7% each and China's Shanghai Composite fell 0.4%. South Korea's Kospi, however, rose 0.2%.

Bank of America Merrill Lynch slashed its rating for oil giant BP Plc (

) from “buy” to “neutral” following the company's agreement to set up a $20 billion escrow fund for claims linked to the Gulf of Mexico oil spill. Analysts at Merrill said they had been hoping the company's meeting with President Barack Obama would bring greater clarity on the ultimate liability for the spill, but that there is little comfort to be taken from the terms agreed.