09:15 am : S&P futures vs fair value: +13.20. Nasdaq futures vs fair value: +19.00.  Premarket participants remain focused on the U.S. dollar in the absence of any major corporate headlines. With the Dollar Index still under some stiff pressure, down some 0.7% amid comments from Chicago Fed President Evans and St. Louis Fed President Bullard, stock futures still sport solid gains and suggest a strong start for the major indices. Commodities futures prices are also garnering support, which has sent both energy prices and precious metals prices higher. In particular, gold is up 1.7% to $1165.70 per ounce. It set a new record high near $1167.80 per ounce in recent trade. The overall tone this morning remains positive, but participants await a couple of potential catalysts, namely existing home sales results for October (10:00 AM ET) and results from the latest auction of 2-year Treasuries (1:00 PM ET).

09:00 am : S&P futures vs fair value: +11.20. Nasdaq futures vs fair value: +16.30.  Though a bit off of their morning highs, stock futures continue to sport a strong lead over fair value. Commodities are also garnering support as gold prices climb 1.5% to a new record high of $1164.40 per ounce. Oil prices are up 1.7% to $78.75 per barrel in the first few minutes of pit trade. Separately, the Baltic Dry Index declined for the second straight session after it had put in a 17-day streak of gains. Following a 3.3% decline Friday, the index fell 1.9% overnight.

08:35 am : S&P futures vs fair value: +10.40. Nasdaq futures vs fair value: +14.80.  Europe's major indices are up solidly. The gains come amid news that the euro-zone economy saw its composite purchasing managers index hit a two-year high in November by coming in at 53.7. In Germany, the country's purchasing managers index advanced to 52.0 in November from 51.0 in October, while the PMI for the services sector picked up to 51.5 from 50.7. The data were stronger than expected, according to reports. Germany's DAX is currently up 1.5% with Siemens (SI) acting as a primary leader. In France, the CAC is up 1.7%. Energy giant Total (TOT) is a primary leader at the moment. Danone, Alcatel-Lucent, and STMicroelectronics are the only three names in the 40-member index to trade with a loss. In Britain, the FTSE is up 1.5%. Global banking giant HSBC (HBC) is providing key support. In Asia, Hong Kong's Hang Seng advanced 1.4%. Financials jumped amid optimism that Beijing will extend its loose monetary policy until next year. Meanwhile, metals stocks gained after gold prices gained further ground. In mainland China, the Shanghai Composite closed 0.9% higher. Auto shares found support after bullish comments were made from the Guangzhou Autoshow. The MSCI Asia Pacific Index advanced 1.0% Monday, but Japan's Nikkei was closed for a holiday.

08:05 am : S&P futures vs fair value: +11.00. Nasdaq futures vs fair value: +15.30.  The U.S. dollar remains a primary catalyst for trading in the absence of many major announcements. With the greenback down 0.7% against a basket of major foreign currencies after Chicago Fed Evans mentioned in an Financial Times interview that he thinks interest rates will remain near zero easily into 2010, stock futures have taken a commanding lead over fair value. Solid gains among overseas markets are helping support the generally positive premarket posture, too. Buying among foreign participants follows a flurry of positive headlines. Overall action this week is likely to be queit with Thanksgiving coming on Thursday, but there will still be the occasional catalyst. For instance, existing home sales results for October are due at 10:00 AM ET. Results from the latest auction of 2-year Treasuries are due at 1:00 PM ET.

06:25 am : S&P futures vs fair value: +10.90. Nasdaq futures vs fair value: +15.80.  

06:25 am : Nikkei...Holiday......... Hang Seng...22771.69...+315.60...+1.40%.

06:25 am : FTSE...5346.69...+89.20...+1.70%. DAX...5749.57...+86.00...+1.50%.

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