Premarket Friday

Premarket stock futures are trying to figure out which way to go today, but are currently higher (but barely).  Mixed news signals including the UK government backing BP, pledging to help with the Gulf oil spill.  Additionally, Chinese inflation rose to a 19-month high, and Spain is in question whether or not it requested aid from the European Union.

Today is a beautiful day here in sunny Raleigh, NC.  We will be taking another weekend adventure this weekend, this time off to Virginia Beach for the annual national sand soccer tournament.  But of course, I will be taking a time-out at about 2:30 pm EDT on Saturday to watch the US vs England World Cup match!

Stock to watch today:  British Petroleum (BP) – Most traders wouldn’t touch this stock with a 10-foot pole, however volume was up big yesterday and the stock rebounded +12%, off of 52-week lows.  This stock, for obvious reasons, trades off the news too much lately, so it is near impossible to get a technical read.  I still think it is an interesting stock to watch though, especially with yesterday’s news that the British Prime Minister has pledged to help BP with the Gulf oil spill clean-up.

Here are some additional newsworthy items from today, Friday, June 11, 2010:

• Hemscott – Investing in the Beautiful Game
• Seeking Alpha Wall Street Breakfast – Wall Street Breakfast: Must-Know News
• Seeking Alpha Long Ideas – Royal Dutch Shell: An Undiscovered Dividend Gem
• MarketWatch Top Stories – FSA director Sally Dewar to step down
• TheStreet.com – Stocks Could Follow Employment This Summer
• AOL Money Daily Finance – Euro’s Advance Sparks Gains in Asian Markets
• Seeking Alpha Stock Market Overview – The Death of Las Vegas
• Reuters Top News – UK backing lifts BP shares but spill looks worse
• The Wall Street Journal Market Beat – Chance of U.K. Inflation Problem Creeps Higher

Go make it a great day!