US Stock Futures Move Higher; Point To Sunny Day Ahead

US stock futures inched higher today, as markets hoped that jobs data scheduled to be released later this week and consumer confidence data will affirm the view that the economy was stabilizing. While futures on Dow Jones Industrial Average added 19 points to 10848 about two hours before the start of trading, those of the S&P 500 moved up 2.8 points to 1171.6. Meanwhile, Nasdaq 100 futures advanced 5.75 points to 1966.

In the forex market, the US dollar moved only a little against the euro or the yen. However, the British pound rose back above the $1.50 level. The stocks that could be in focus today are Apple (NASDAQ: AAPL), Verizon (NYSE: VZ) and mining company Vale (NYSE: VALE). AAPL rose 1.8% in pre-market trading on news that it plans to begin producing the new iPhone this year on a different type of network called CDMA, allowing US phone carriers other than AT&T to sell the smartphone. VZ gained 2.3% in the pre-market session. Meanwhile, VALE climbed 1.6% in pre-market trading after it declared the annual iron ore benchmark pricing system.

Around the globe, most Asian markets advanced, with the Nikkei 225 up 1% in Tokyo. Meanwhile, stocks in Europe made modest advances, with the Stoxx Europe 600 moving up 0.2%. In Europe, Irish banks saw dramatic declines for a second day, with Allied Irish Banks (NYSE: AIB) losing 10.06% ahead of the Irish government's announcement on the stake and cuts they will demand for accepting risky loans.

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