Wall Street Markets Get Move Up Signal From US Stock Futures (GIS, UBS, DB, BCS, HTX)

The Wall Street markets are looking to open higher, as US stock futures moved up, shedding their despondency and uncertainty. Futures in the Dow Jones Industrial Average gained 13 points to 10559, while those in the S&P 500 rose 1.1 points to 1138.60. The Nasdaq 100 Futures were up 1.5 points to 1879.

Stocks in focus today include General Mills Inc (NYSE: GIS). GIS is expected to deliver a mid-year update. Shares in the technology sector will also be in focus after the largest contract chipmaker, TSMC, posted more than a two-fold rise in its December sales.

Europe posted weak economic data for November, reflecting a one percentage point rise in unemployment, up from 9.9% in October. According to Eurostat, the November unemployment data was the highest since August 1998. However, European stocks moved up, backed by optimism ahead of the US jobs data. After receiving a ratings upgrade from UBS AG (NYSE: UBS), shares of Deutsche Bank AG (NYSE: DB) and Barclays PLC (NYSE: BCS) also moved up.

The mood in the Asian markets was also upbeat. While shares of Japanese exporters gained on a weak yen, that of Hutchison Telecommunications International Ltd (NYSE: HTX) surged after receiving a takeover offer.