U.S. futures edge higher, eyes on G20 meeting; Dow Jones up 0.16%

Investing.com - U.S. stock futures pointed to a moderately higher open on Wednesday, after U.S. President Barack Obama's State of the Union address, while investors eyed an upcoming G20 summit later in the week.

Ahead of the open, the Dow Jones Industrial Average futures pointed to 0.16% gain, S&P 500 futures signaled 0.15% rise, while the Nasdaq 100 futures indicated 0.22% increase.

On Tuesday, Barack Obama laid out his second-term agenda and attempted to push past the fiscal battles that plagued his first term.

Meanwhile, investors remained cautious after a statement by the G7 on Tuesday reaffirmed a commitment to market-determined exchange rates and said that fiscal and monetary policy won't target exchange rates.

The statement came ahead of G20 meeting starting Friday, which is likely to feature discussions on competitive currency devaluations.

Internet-related stocks were expected to be active, after Yahoo Chief Executive Marissa Mayer said the company's search partnership with Microsoft was not delivering the expected market share gains or revenue boost.

Separately, Clearwire, the wireless service provider that both Sprint Nextel and Dish Network want to buy, said on Tuesday that it would need Sprint financing to keep afloat until the end of the year.

Shares in Clearwire dropped 0.63% in after-hour trade.

Also in company news, Comcast reportedly took full control of NBC Universal for USD16.7 billion on Tuesday, the latest in a series of deals that have taken the cable operator from Tupelo, Mississippi, to Manhattan's Rockerfeller Center.

The news sent shares in Comcast surging 7.43% in late trading.

General Electric, who sold its remaining stake in NBC Universal to Comcast, was up 3.19% in pre-market trade.

Elsewhere, Western Union dove 4.04% after hours as the world’s biggest money-transfer business said it expects “low single digit” revenue declines in 2013.

Across the Atlantic, European stock markets were mixed. The EURO STOXX 50 inched 0.06% higher, France’s CAC 40 eased up 0.01%, Germany's DAX rose 0.39%, while Britain's FTSE 100 dipped 0.05%.

During the Asian trading session, Japan’s Nikkei 225 Index tumbled 1.04%, while Hong Kong's Hang Seng Index remained closed for the Lunar New Year holiday.

Later in the day, the U.S. was to publish official data on retail sales, as well as reports on import prices, business inventories and crude oil stockpiles.