Snooze buttons were popular this morning by the looks of the trading volume on electronic brokerage



Foreign telco


(VOD) - Get Vodafone Group Plc Sponsored ADR Report

was grabbing the spotlight in preopen trading this morning after Hong Kong's

Hutchison Whampoa


said it would divest part of its stake in the phone company. In recent trading, the stock was down $1 to $34.88.

The foreigners were snagging most of the attention on Instinet, with German softwaremaker


(SAP) - Get SAP SE Sponsored ADR Report

announcing better-than-expected earnings and bouncing a whopping 17%, up $5 to $34.25.

Still, SAP couldn't sap Vodafone's strength, which along with such buddies as

France Telecom


was putting pressure on Europe's major indices at midsession, with France's


down 0.8%, Germany's

TheStreet Recommends

Xetra Dax

off 0.2% and the U.K.'s

FTSE 100

0.1% lower. Major Asian markets were mixed at their closing bells. Japan's

Nikkei 225

gained 1.3% overnight, while Hong Kong's

Hang Seng

slipped 0.1%.

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S&P 500 futures on


lately were up 4 to 1308, about 1 point below fair value as calculated by

Prudential Securities

. The thinly traded

Nasdaq 100

futures were up 13.5 to 2307, about 14 points above fair value as calculated by


For Friday's postclose trading, see The Night Watch.