Preopen Trading: Thanksgiving Holiday Re-Energizes Futures
Market been down so long it
looks up to you?
While many investors will be sitting out the day after Thanksgiving, those set to trade today look like they're going to jump-start the tech-heavy
Nasdaq Composite Index off its newest lows. The index closed on Wednesday at 2755.3, the lowest point since last October and 45% off the all-time closing high of 5048.62 it reached March 10.
At 7:05 a.m.
S&P 500 futures were trading 17.30 higher to 1340.30, putting them about 14 points above
fair value, as calculated by
Prudential Securities
. Futures for the large-cap tech Nasdaq 100 were up by 95 to 2777.50, placing them about 99 points higher than fair value, as calculated by
TheStreet.com
. Fair value is a good gauge of how stocks will trade in early action, and today all signs look positive.
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In Europe, the major stock indices were pushing higher. The
CAC-40
in Paris was up 1.56% to 6147.55 and the
Dax
in Germany was gaining 1.51% to 6702.28. In London, the
FTSE
was 0.93% higher to 6343. Asian markets were mixed. The
Hang Seng
in Hong Kong was down 1.28% to 14,376.90, while the
Nikkei 225
in Japan was edging 0.10% higher to 14,315.35.
For Wednesday's postclose trading, see The Night Watch.
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