+12.40. Nasdaq futures vs fair value: +19.00.
Stock futures are up sharply this morning. The bid marks a continuation of the prior session's intraday climb, which helped the major averages settle at session highs. Strong gains abroad have helped perpetuate a positive tone. Most of Asia's major averages scored strong gains overnight. Japan's Central Bank made no changes to its monetary policy. As for Europe, its major bourses are up sharply amid news that a court in Germany rejected a lawsuit to block the country's participation in European Union bailouts. On the corporate front, Bank of America (BAC) has streamlined its management and operations, establishing co-chief operating officers in the process. Also, Yahoo! (YHOO) has ousted its CEO, Carol Bartz. The economic calendar is relatively light today. It features the latest Fed Beige Book, which contains regional anecdotal data, but is ultimately likely to be just as exciting as it sounds. It is due at 2:00 PM ET.