Stocks are indicated modestly higher on gains in overseas and commodities markets Friday morning. Thirty minutes before the opening bell on Wall Street, stock index futures indicate that the Dow Jones Industrial Average might add 15 to 20 points in early trading.
Benchmarks are higher across Europe amid easing concerns about debt problems after bond yields fell in Greece Friday. France’s CAC 40 Index is rose 1.3 percent, Germany’s DAX added .9 percent and UK’s FTSE edged up .8 percent.
The euro ticked up .0023 to 1.3381, which helped support crude oil and gold prices. Crude added 51 cents to $85.90 a barrel and gold gained $3.7 to $1156.60 an ounce.
In the US, there isn’t much news to guide the market action. A report on Wholesale Inventories is also on the economic calendar, but generally not a market mover. Economists expect the data, due at 10:00 ET, to show an increase of .3 percent in February.
Bonds are seeing modest losses ahead of the data. The benchmark ten-year Treasury is down 4/32nd and now yields 3.91 percent.
Among the stocks to watch, PALM is up 9 percent after a Chinese web site speculated HTC might make a bid for the company. JC Penney (JCP) rose 3.5 percent after being added to the Conviction Buy list at Goldman Sachs. Ambac Financial (ABK) gained 50 percent after reporting a $1.93 per share profit, with help from a tax benefit. Clorox (CLX) edged up 1.2 percent after the Wall Street Journal reported its near a deal to sell STP, Armor All.
Alcoa (AA) might see action. The Dow component unofficially kicks off the earnings-reporting season with a earnings release Monday morning.