Investing.com – U.S. stock futures pointed to a higher open on Wednesday, as market sentiment was lifted by upbeat Chinese growth data, while investors awaited a congressional testimony by Federal Reserve Chairman Ben Bernanke.
Dow Jones Industrial Average futures pointed to a gain of 0.35%, the S&P 500 futures climbed 0.45%, while the Nasdaq 100 futures rose 0.55%.
Official data released earlier showed that Chinese gross domestic product expanded by 9.5% in the second quarter, easing concerns over a sharp slowdown in the rate of growth in the world’s second largest economy.
Meanwhile, Fed chair Bernanke was to give testimony before Congress and was likely to be asked why the central bank’s current stimulus measures have not been more effective in reducing unemployment.
His appearance comes a day after minutes of the Fed’s June policy-setting meeting showed that some policymakers believe further stimulus measures may be needed if the U.S. recovery remains sluggish or if inflation eases.
Shares in Capital One Financial jumped 1.6% in pre-market trade after it reported a 50% increase in second quarter net income. Total revenue in the quarter rose 2.2% to USD3.99 billion.
Other notable earnings slated for Wednesday include Marriot International and fast-food restaurant operator Yum Brands.
In deal news, medical technology firm Kinetic Concepts saw shares rally 5.1% after it agreed to be acquire by a consortium of funds in a deal valued at approximately USD6.3 billion.
Video game publisher Electronic Arts saw shares slide 3.6% after announcing that it would acquire privately-held PopCap Games for nearly USD1.3 billion.
Meanwhile, shares in precious metal producers, Freeport McMoran Copper & Gold and African Barrick Gold could be active after gold prices rose to an all-time high of USD1,579.35 a troy ounce on the New York Mercantile Exchange.
Other stocks in focus included, Google, Netflix and Amazon, which were all upgraded by JP Morgan to ‘overweight’.
Across the Atlantic, European stock markets were mixed, as gains were limited amid the region’s ongoing debt crisis. The EURO STOXX 50 edged 0.2% higher, France’s CAC 40 eased down 0.1%, Germany's DAX added 0.3%, while Britain's FTSE 100 dipped 0.1%.
During the Asian trading session, Hong Kong’s Hang Seng Index jumped 1.2%, while Japan’s Nikkei 225 index rose 0.37%.
Earlier in the day, official data showed that U.S. import prices declined less-than-expected in June. Later in the day, the country was to publish a report on crude oil inventories.
Dow Jones Industrial Average futures pointed to a gain of 0.35%, the S&P 500 futures climbed 0.45%, while the Nasdaq 100 futures rose 0.55%.
Official data released earlier showed that Chinese gross domestic product expanded by 9.5% in the second quarter, easing concerns over a sharp slowdown in the rate of growth in the world’s second largest economy.
Meanwhile, Fed chair Bernanke was to give testimony before Congress and was likely to be asked why the central bank’s current stimulus measures have not been more effective in reducing unemployment.
His appearance comes a day after minutes of the Fed’s June policy-setting meeting showed that some policymakers believe further stimulus measures may be needed if the U.S. recovery remains sluggish or if inflation eases.
Shares in Capital One Financial jumped 1.6% in pre-market trade after it reported a 50% increase in second quarter net income. Total revenue in the quarter rose 2.2% to USD3.99 billion.
Other notable earnings slated for Wednesday include Marriot International and fast-food restaurant operator Yum Brands.
In deal news, medical technology firm Kinetic Concepts saw shares rally 5.1% after it agreed to be acquire by a consortium of funds in a deal valued at approximately USD6.3 billion.
Video game publisher Electronic Arts saw shares slide 3.6% after announcing that it would acquire privately-held PopCap Games for nearly USD1.3 billion.
Meanwhile, shares in precious metal producers, Freeport McMoran Copper & Gold and African Barrick Gold could be active after gold prices rose to an all-time high of USD1,579.35 a troy ounce on the New York Mercantile Exchange.
Other stocks in focus included, Google, Netflix and Amazon, which were all upgraded by JP Morgan to ‘overweight’.
Across the Atlantic, European stock markets were mixed, as gains were limited amid the region’s ongoing debt crisis. The EURO STOXX 50 edged 0.2% higher, France’s CAC 40 eased down 0.1%, Germany's DAX added 0.3%, while Britain's FTSE 100 dipped 0.1%.
During the Asian trading session, Hong Kong’s Hang Seng Index jumped 1.2%, while Japan’s Nikkei 225 index rose 0.37%.
Earlier in the day, official data showed that U.S. import prices declined less-than-expected in June. Later in the day, the country was to publish a report on crude oil inventories.