S&P futures vs fair value: +3.8. Nasdaq futures vs fair value: +0.3.
Pre-market sentiment continues to improve as investors selectively pick up shares of some influential names. Nasdaq 100 futures are now trading above fair value, but barely, as Research In Motion (RIMM) rallied 2.0% in pre-market action following upbeat remarks out of Goldman Sachs (GS). The latter is among a couple of global financial stocks exhibiting some follow-through momentum after being upgraded to Overweight from Neutral at Lehman Brothers (LEH). The Financial sector's leadership will again be a key to whether or not broader market gains can be sustainable over the near term. With a nearly 21% weighting on the S&P 500, a 3.6% rally in Financials Friday was the biggest reason behind the broader market'
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