Investing.com - U.S. stock futures pointed to a steady open on Wednesday, as recent downbeat U.S. economic reports eased expectations for the Federal Reserve to begin tapering its stimulus program next month, although concerns over tensions in Syria continued to weigh.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a 0.01% gain, S&P 500 futures signaled a 0.04% rise, while the Nasdaq 100 futures indicated a 0.09% increase.
Concerns over the timing of a reduction in Fed stimulus eased after data on Tuesday showed that U.S. consumer confidence rose more than expected in August, hitting the highest level since January 2008.
The Conference Board said its index of consumer confidence rose to 81.5 in August from an upwardly revised 81.0 in July. Analysts had expected the index to tick down to 79.0.
But investors remained cautious amid growing expectations for U.S. military strikes against Syria’s government. U.S. Vice-President Joe Biden said Tuesday there is "no doubt" that the Syrian government used chemical weapons against civilians and added that it must be held accountable.
New York Times shares were likely to be in focus after the newspaper reported late Tuesday that it had taken down its website after it was hacked.
Both the U.S. newspaper and Twitter Inc. reportedly had their Internet registrations hacked by the Syrian Electronic Army, rendering at least parts of their sites inaccessible.
In the tech sector, Microsoft shares climbed 0.72% in after-hour trade, as it was said to be within planning to boost its dividend amid calls by an activist shareholder to return more cash to investors.
Financial stocks were also expected to be active, following reports former JPMorgan Chase trader Javier Martin-Artajo was released from police custody after telling a Madrid court he opposed attempts by U.S. prosecutors to extradite him on charges he hid trading losses that cost the bank USD6.2 billion.
JPMorgan shares were down 0.10% in extended trading.
Other stocks likely to be in focus included Brown-Forman, Joy Global, Chico's and Williams-Sonoma, scheduled to report second-quarter earnings later in the day.
Across the Atlantic, European stock markets were sharply lower. The EURO STOXX 50 dropped 0.89%, France’s CAC 40 slid 0.40%, Germany's DAX tumbled 1.08%, while Britain's FTSE 100 declined 0.62%.
During the Asian trading session, Hong Kong's Hang Seng Index plummeted 1.60%, while Japan’s Nikkei 225 Index retreated 1.51%.
Later in the day, the U.S. was to release data on pending home sales.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a 0.01% gain, S&P 500 futures signaled a 0.04% rise, while the Nasdaq 100 futures indicated a 0.09% increase.
Concerns over the timing of a reduction in Fed stimulus eased after data on Tuesday showed that U.S. consumer confidence rose more than expected in August, hitting the highest level since January 2008.
The Conference Board said its index of consumer confidence rose to 81.5 in August from an upwardly revised 81.0 in July. Analysts had expected the index to tick down to 79.0.
But investors remained cautious amid growing expectations for U.S. military strikes against Syria’s government. U.S. Vice-President Joe Biden said Tuesday there is "no doubt" that the Syrian government used chemical weapons against civilians and added that it must be held accountable.
New York Times shares were likely to be in focus after the newspaper reported late Tuesday that it had taken down its website after it was hacked.
Both the U.S. newspaper and Twitter Inc. reportedly had their Internet registrations hacked by the Syrian Electronic Army, rendering at least parts of their sites inaccessible.
In the tech sector, Microsoft shares climbed 0.72% in after-hour trade, as it was said to be within planning to boost its dividend amid calls by an activist shareholder to return more cash to investors.
Financial stocks were also expected to be active, following reports former JPMorgan Chase trader Javier Martin-Artajo was released from police custody after telling a Madrid court he opposed attempts by U.S. prosecutors to extradite him on charges he hid trading losses that cost the bank USD6.2 billion.
JPMorgan shares were down 0.10% in extended trading.
Other stocks likely to be in focus included Brown-Forman, Joy Global, Chico's and Williams-Sonoma, scheduled to report second-quarter earnings later in the day.
Across the Atlantic, European stock markets were sharply lower. The EURO STOXX 50 dropped 0.89%, France’s CAC 40 slid 0.40%, Germany's DAX tumbled 1.08%, while Britain's FTSE 100 declined 0.62%.
During the Asian trading session, Hong Kong's Hang Seng Index plummeted 1.60%, while Japan’s Nikkei 225 Index retreated 1.51%.
Later in the day, the U.S. was to release data on pending home sales.