Futures Signaling Higher Open
05-Mar-13 09:15 ET
Market is Closed
[BRIEFING.COM] S&P futures vs fair value: +8.10. Nasdaq futures vs fair value: +17.50. Heading into the open, equity futures are signaling a higher start to the session. The S&P 500 futures are registering a gain of 0.4%, trading near their pre-market highs.
The upbeat overseas trade comes after most Services PMI readings across the Eurozone were reported ahead of expectations. However, it is worth noting that the Eurozone Services PMI, which was reported at 47.9, continues to indicate contraction.
Domestically, the tech-heavy Nasdaq is poised to outperform at the start. Cree (CREE 48.07, +3.35) is jumping 7.5% after the company raised its third quarter earnings and revenue guidance.
Qualcomm (QCOM 68.05, +1.42) is also contributing to the pre-market strength after hiking its quarterly dividend by 40% to $0.35 per share. The company also announced a $5 billion share buyback program.
In today's economic data, the February ISM Services Index will be reported at 10:00 ET.