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Current Futures: Dow +71.00, S&P +9.00, NASDAQ +12.00

Asian markets advanced on Thursday morning, helped by the U.S. durable goods release. Moreover, Asian markets advanced even though U.S. futures moved very initially, something addressed as the afternoon session wore on and major resistance was taken out at 894.00.

Most of the gains were seen in technology stocks, which continued to outperform the major indexes after Novel, one of the biggest software companies in the world, matched analysts expectations for the fourth quarter earnings. The same situation was seen in the U.S. markets, where the tech-driven NASDAQ posted noticeably stronger gains than the S&P 500 index.

Further gains came during the Asian session following the U.S. durable goods report, which showed that orders for products made to last 3 years or longer increased for a third time in the last four months in May. Most of these goods are usually produced in the Asian region, and as such, investors gauge that companies with exposure towards the U.S. consumer market are likely to have better than expected quarterly results. In other news, Aozora Bank and Shinsei Bank surged almost 7% on Thursday after a report showed that the two banks plan to merge, creating Japan’s sixth-biggest financial corporation. 

Overnight, the Japanese Nikkei gained 151.55 points (1.58%) to 9,741.86. The Australian S&P/Asx advanced 29.50 points (0.77%) to 3,836.50

Crude oil for July delivery was recently trading at $68.45 per barrel, lower by $0.20.

Gold for July delivery was recently trading up by $1.10 to $935.50.

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