Nasdaq 100 futures on the rise this morning

Yesterday the tech sector and the Nasdaq 100 was the laggard amongst the major US stock market indexes and spent a good deal of the early session in the red. However, as the gains in the Dow Jones extended, eventually the Nasdaq moved into positive territory and later managed to grind out a higher close. The index closed 38 points higher, at 17,845. This morning the Nasdaq 100 futures are being buoyed by gains here in Europe and in relative terms outperforming the Dow Jones right now. The Nasdaq 100 is currently priced to reopen close to 17,950. However, there is a quite important US data release due out ahead of that opening- the January PPI (Producer Price index), at 1.30pm GMT. The markets currently expect a rather mixed outcome from this data. January PPI is expected to rise by 0.1% against a December fall of 0.1%. It remains to be seen if this data will add to the higher CPI numbers on Tuesday, or detract from them. Right now it would seem to require a significantly higher reading across all the PPI matrix, in order to shift the US stock markets back down again.