Preopen trading on this Monday morning is sluggish. But fear not, we'll still give you a peak at how the trading day is shaping up.
One stock at attention this morning is
. After the close on Friday, the biotech company got word that it won a patent fight against
for its popular anemia treatment, Epogen. Amgen lately was up 17.5%, or $10.50, to $70.50 on electronic brokerage
, where investors can trade even if the markets aren't officially open.
Early morning futures action wasn't looking too good. The
S&P 500 futures on the
exchange were lately off 3.5 to 1345, almost 7 points below
fair value, as calculated by
. The thinly traded
futures, which track large-cap tech stocks, were down 19.5 points to 2667, or about 11 points below fair value as calculated by
. Fair value helps gauge how stocks will trade in early action, and this morning's signs are negative.
It's no surprise then that Europe's major indices were down at midsession. France's
was off 0.3%, Germany's
was down 0.5% and the U.K.'s
was 0.5% lower. Asian markets bounced, however, with Japan's battered
up 0.3% overnight and Hong Kong's
For more on the world stock markets, check out
global indices page.
For Friday's postclose trading, see The Night Watch.