Futures Pointing Towards Higher Open

7:45am (EST)

We said in last night’s Weekly Wrap that all eyes will be on the dollar and Friday’s jobs report. As expected, the dollar rose to a two-week-high against the euro this morning and Wall Street is placing bets that Friday’s U.S. employment data could continue to point toward a recovery.

As we get ready to start our day, Dow futures are higher by 56 points while the S&P 500 futures are up by 6.6 points. Meanwhile, the Nasdaq futures are showing a gain of 22 points. These are good signs for us this morning.

As far as economic news for today, the Institute for Supply Management manufacturing index for December is due out and any improvement in the data should support the dollar’s climb. Wall Street is expecting the index is likely to rise to 54.0 from 53.6 in the previous month.

In company news, sales of Avatar topped $1 billion and we pretty much nailed this prediction as well. The film took in nearly $70 million over the three-day weekend and has topped $350 million after just 17 days, folks. Avatar did $130 million overseas to lift its international tally to $670 million, for a worldwide gross of $1 billion.

We have been talking about this flick for quite some time and we have been mentioning how Imax (IMAX, $13.31, down $0.47) could ride the Avatar’s success to new 52-week highs. This was a $4 stock in early 2009 and we kept pounding the table to load up until our knuckles were white. As they say, the squeaky wheel gets the oil and we are hoping shares make a quick run to $15 on the news this week.

We have updated the Members Area this morning with all of our current trades. Subscribers, check for the updates.

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Futures Pointing Towards Higher Open

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