A Peek Into The Market At The Start Of The Trading Day

Pre-open movers US stock futures moved up today, indicating that the Standard & Poor’s 500 Index may recover from selloff seen late yesterday. While futures on the Dow Jones Industrial Average gained 95 points to 10153, those on the Standard & Poor's 500 index added 12 points to 1075. Meanwhile, Nasdaq Composite futures advanced 19 points to 1834. A Peek Into Global Markets Positive sentiments ruled the European markets, with STOXX Europe 600 Index advancing 1.45% and London’s FTSE 100 Index moving up 1.10%. Asian markets ended mixed, with Japan's Nikkei Stock Average falling 0.63%, Australia's S&P/ASX 200 slipping 0.77% and China's Shanghai Composite gaining 1.06%. A Peek Into The ETN Market Buoyed by increased stockpile bookings and a bullish earnings report from Freeport McMoRan FCX, the iPath DJ-UBS Copper TR Sub-Idx ETN JJC looks like it has broken out of an inverse head and shoulders pattern. London-traded copper is up for the fourth consecutive day amid the 25th straight day of declining inventories. To read the full news, click here. Breaking news

• Houston, Texas based Continental Airlines, Inc. CAL on Thursday morning released financial results that beat Wall Street earnings expectations. Continental Airlines reported that it swung to a 2nd quarter profit with net income of $233 million, or $1.46 per share, from a net loss of $213 million, or $1.72 per share, a year earlier. To read the full news, click here.
• UPS UPS today announced diluted earnings per share of $0.84 for the second quarter of 2010, a 71% jump over the adjusted earnings of the prior-year period. Global revenue increased 13%, generating a 57% increase in operating profit to $1.4 billion. To read the full news, click here.
• 3M MMM reports its second-quarter earnings at $1.54 per share, exceeding the consensus of $1.48. MMM’s sales for the quarter came in at $6.7 billion, just scrapping past the Street view of $6.66 billion. To read the full news, click here.
• Anadarko Petroleum APC, the Texas-based independent oil and gas producer that owns a 25% non-operating interest in the Macondo well project, said it will meet with BP BP, the project's primary operator, to settle legal disputes related to spill-related costs. To read the full news, click here.

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