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Premarket Stock Trading Update – US Markets Poised to Open Higher

Submitted by kevinamos on Mon, 2010-07-19 08:29.

Following a brutal Friday session trading session last week this morning stock market futures are pointing higher. S&P 500 futures are trading up 3.50 and there is hope among many traders that the market will return to last week’s higher levels.

Although the Japanese Nikkei stock index fell overnight Britain and Germany’s stock exchanges are currently trading up half a percent.

Toy company Hasbro announced a profit rise of 11% thanks to cuts in expenses while Haliburton announced an 83% increase in earnings.

Goldman Sachs and Morgan Stanley will report earnings this week.

Analysts at Keffe, Bruyette, and Woods raised their earnings estimates for Citigroup, which helped put a premarket bid on its stock. It is currently trading up 0.8% before the open.

Delta also announced positive earnings after two previous quarters of losses.

The S&P 500 currently has support at 1065 on its chart and resistance at 1100.

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