Futures Pointing Towards Higher Open

8:45am (EST) Futures are steam-rolling higher this morning, pointing towards a nice open as the market tries to rebound from yesterday’s losses. It looks like the bulls are ready to run once we open but will it be enough to get the Dow to 10,000? Ahead of the bell, Dow futures are up 47, to 9,765. S&P 500 futures are higher by 6, to 1,066, while the Nasdaq 100 futures have climbed 11, to 1,739. The first hurdle to clear this morning will be the housing price numbers which are due out at 10am. The Federal Reserve also kicks off its two-day interest rate meeting today, and although they don’t comment on the first day, interest rates are expected to remain unchanged when they announce Wednesday. Also, the U.S. Treasury is selling $45 billion in two-year notes so we will have to see what impact this could have on the market. It looks like the cruise industry is enjoying better times…Carnival (CCL, $32.00) is trading higher by $1.65, to $33.65, after reporting better-than-expected earnings this morning. Ditto for ConAgra Foods (CAG, $22.33) as it reported 1Q results that topped Wall Street’s expectations. As far as stocks we are watching, Citigroup (C, $4.43) is up 14 cents, Research In Motion (RIMM, $84.16) is trading near $85, and Dendreon (DNDN, $29.46) is up 44 cents to $29.90. Subscribers, check the Members Area for the trade updates… Rick@MomentumOptionsTrading.com]]>

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Futures Pointing Towards Higher Open

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