NEWS / Foreign Exchange

U.S. Indices surge on upbeat earning??™s announcements

- Equity futures were ticking higher into the NYC open, helped by strength in overseas markets and positive receptions to multiple U.S. bellwether earnings reports.  Google +3.6% continues to hum along reporting another quarter of strong growth.  CAT +5% and HON +3% are powering the blue chips post earnings while MCD and PFE are two of a handful of components losing ground.  Shares of SLB popped on the open after releasing Q1 eps, which in turn led to initial gains in the OIH.  Oil Service names have since sold off on cautious comments from SLB management regarding North American trends.  The OIH has slipped into negative territory and faces the possibility of losing ground for the 4th straight session despite June crud futures making news session highs at $63.90.  Treasury markets opened higher, but similar to yesterday??™s pattern sold off into negative territory tracking weakness in the Bund.  The 10-year note future is near session lows down 4 ticks testing support seen around 107 27/32, and the cash yield has backed up 4.686%.  The Dollar has firmed a bit after the EUR/USD approached all time highs in the overnight session.  June Gold traded as high as $698 early in the floor session and has held up more than 1% throughout the session.