The market review for January, 2st

U.S. equity futures are showing little direction premarket, edging higher, most likely due to the dollar trading modestly lower against the euro and yen. Asian markets rallied overnight, particularly in Hong Kong and China, following yesterday’s rally in U.S. equity and commodity markets. But European markets are up only modestly, with the exception of the UK’s FTSE. It is being led higher by banks following market talk that Barclays (BCS) may lift its outlook and after Deutsche Bank said that Barclays and Lloyds Banking Group (LYG) were among its top picks in European banks. Back in the U.S., the only big headline is that Kraft (KFT) sweetened its bid for Cadbury (CBY) after agreeing to sell its North American frozen pizza business to Nestle. But Kraft only increased the cash element of the hostile bid, not the size, and shares of CBY are trading 2% lower premarket. -Equity futures: S&P …

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