U.S. futures higher on Chinese trade data; Dow Jones up 0.29%

Investing.com - U.S. stock futures pointed to a higher open on Wednesday, as market sentiment was boosted by Chinese trade data, while investors eyed the minutes from the Federal Reserve’s latest policy meeting later in the day.

Ahead of the open, the Dow Jones Industrial Average futures pointed to a 0.29% rise, S&P 500 futures signaled a 0.30% rise, while the Nasdaq 100 futures indicated a 0.31% increase.

Market sentiment was boosted after data showed that China posted an unexpected trade surplus in March as imports rose sharply to outstrip exports.

The data helped eased concerns over weakening domestic demand in the world’s second largest economy.

Meanwhile, investors were waiting to see if the U.S. central bank discussed the possibility of an earlier-than-expected end to its quantitative easing program at its March meeting, after examining the possibility at its previous two meetings.

Financial stocks were expected to be active, as Goldman Sachs was preparing to face a lawsuit in which Prudential Financial accused the U.S. lender of defrauding it into buying more than USD375 million of residential mortgage-backed securities it knew were unsafe.

Shares in Goldman Sachs slipped 0.10% in after hour trade.

Hospital operator Health Management Associates was also likely to be in focus, after it reduced on Tuesday its outlook for 2013 earnings and revenue, citing weak patient admissions in the first quarter of the year, sending shares down 13.42% in late trading.

In the same sector, Reuters reported that a Nevada jury awarded USD500 million in punitive damages in a case against two affiliates of UnitedHealth Group stemming from a hepatitis C outbreak in the state.

In the tech sector, Thermo Fisher Scientific made a binding offer for Life Technologies on Tuesday, marking another step in the race to finalize a consortium to take the genetic testing equipment maker private.

Separately, Yahoo and Apple were reportedly discussing how more Yahoo services can play a prominent role on Apple's iPhone and iPad. Yahoo shares rallied 1.55% in pre-market trade, while Apple gained 0.43%.

Across the Atlantic, European stock markets were sharply higher. The EURO STOXX 50 rallied 1.40%, France’s CAC 40 jumped 1.24%, Germany's DAX advanced 1.13%, while Britain's FTSE 100 gained 0.77%.

During the Asian trading session, Hong Kong's Hang Seng Index climbed 0.73%, while Japan’s Nikkei 225 Index advanced 0.73%.