US Stock Futures Flat As Crude Oil Rises Above $106 Per Barrel

US stock futures are mixed this morning, as crude oil futures surged above $106 per barrel. Futures on the Dow Jones Industrial Average fell 2 points to 12,152.00 and futures on the S&P 500 stock index dropped 0.10 point to 1,320.20. Nasdaq 100 futures rose 2.75 points to 2,362.50.

The blue-chip Dow index dropped 0.72% to close at 12,170 on Friday, but gained 0.3% in the last week.

Data on January consumer credit will be released at 3 p.m. ET.

Urban Outfitters Inc URBN is estimated to post its Q4 earnings at $0.52 per share on revenue of $674.92 million. Kronos Worldwide Inc KRO is estimated to post its Q4 EPS at $0.61 on revenue of $370.89 million.

Home Inns & Hotels Management Inc HMIN is expected to post its Q4 earnings at $0.23 per share on revenue of $115.55 million. Casey's General Stores Inc CASY is projected to report its FQ3 EPS at $0.50 on revenue of $1.29 billion. CIENA Corp CIEN is estimated to report a FQ1 loss at $0.16 per share on revenue of $421.91 million.

Moody's Investors Service downgraded Greece's government bond ratings from “Ba1” to “B1.”

Positive sentiment ruled the European markets today. While STOXX Europe 600 Index has gained 0.03%, London's FTSE 100 Index moved up 0.22%.

Most Asian markets ended lower, with Japan's Nikkei Stock Average dropping 1.76%, Australia's S&P/ASX 200 moving down 1.26% and China's Shanghai Composite rising 1.84%. Hong Kong's Hang Seng Index fell 0.41% and India's Sensex dipped 1.38%.

Crude oil for April delivery jumped $1.75 to $106.17 per barrel in electronic trading on Globex as political unrest continued in Libya and other parts of North Africa and the Middle East.

Gold for April delivery climbed $9.60 to $1,438.20 an ounce in electronic trading on Globex.

The US dollar dropped versus its major rivals. The dollar index (DXY) fell 0.28% to 76.19. However, the euro rose 0.3% to $1.4019 against the dollar.

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