Investing.com - U.S. stock futures pointed to a higher open on Wednesday, ahead of the release of U.S. economic growth data later in the day, although expectations for the Federal Reserve to taper its stimulus program continued to weigh.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a 0.35% rise, S&P 500 futures signaled a 0.42% increase, while the Nasdaq 100 futures indicated a 0.55% gain.
U.S. consumer confidence rose to highest level since January 2008 in the current month, data on Tuesday showed, while another report showed that U.S. new home sales rose to an almost five year high May.
A separate report showed that U.S. durable goods orders rose unexpectedly in May.
Fed Chairman Ben Bernanke said last week that the bank could begin tapering asset purchases by the end of this year if the economy continues to pick up.
Separately, fears over a credit squeeze in China eased after the country’s central bank indicated Tuesday that it was acting to support financial institutions with liquidity.
Tech stocks were expected to be active, as Apple shares gained 0.34% in pre-market trade, even as Oppenheimer cut its price target on the tech giant to USD460 from USD480.
In the same sector, Microsoft slipped 0.18% in early trading, erasing the previous day's gains after it announced a tie-in with Oracle to garner advantage against newer, web-based cloud computing companies.
McDonald's was also likely to be in focus as the chain has retreated from selling Halal food after settling a lawsuit alleging the menu items were not consistently halal, sending shares up 0.18% pre-market.
Separately, Monster Beverage shares dropped 0.38% in extended trading after a second wrongful death suit was filed against the energy drink maker, as a 19-year-old suffered cardiac arrest after consuming the drink.
Among healthcare companies, Intuitive Surgical shares plummeted 2.19% after hours, as the Food and Drug Administration said the firm broke procedures when it warned customers about problems with its da Vinci surgical robot without first alerting regulators.
Other stocks likely to be in focus included General Mills, Monsanto, Bed Bath & Beyond, due to report quarterly results later in the day.
Across the Atlantic, European stock markets were sharply higher. The EURO STOXX 50 surged 1.09%, France’s CAC 40 jumped 1.79%, Germany's DAX rallied 1.59%, while Britain's FTSE 100 gained 1.09%.
During the Asian trading session, Hong Kong's Hang Seng Index soared 2.43%, while Japan’s Nikkei 225 Index tumbled 1.04%.
Later in the day, the U.S. was to release revised data on first quarter economic growth.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a 0.35% rise, S&P 500 futures signaled a 0.42% increase, while the Nasdaq 100 futures indicated a 0.55% gain.
U.S. consumer confidence rose to highest level since January 2008 in the current month, data on Tuesday showed, while another report showed that U.S. new home sales rose to an almost five year high May.
A separate report showed that U.S. durable goods orders rose unexpectedly in May.
Fed Chairman Ben Bernanke said last week that the bank could begin tapering asset purchases by the end of this year if the economy continues to pick up.
Separately, fears over a credit squeeze in China eased after the country’s central bank indicated Tuesday that it was acting to support financial institutions with liquidity.
Tech stocks were expected to be active, as Apple shares gained 0.34% in pre-market trade, even as Oppenheimer cut its price target on the tech giant to USD460 from USD480.
In the same sector, Microsoft slipped 0.18% in early trading, erasing the previous day's gains after it announced a tie-in with Oracle to garner advantage against newer, web-based cloud computing companies.
McDonald's was also likely to be in focus as the chain has retreated from selling Halal food after settling a lawsuit alleging the menu items were not consistently halal, sending shares up 0.18% pre-market.
Separately, Monster Beverage shares dropped 0.38% in extended trading after a second wrongful death suit was filed against the energy drink maker, as a 19-year-old suffered cardiac arrest after consuming the drink.
Among healthcare companies, Intuitive Surgical shares plummeted 2.19% after hours, as the Food and Drug Administration said the firm broke procedures when it warned customers about problems with its da Vinci surgical robot without first alerting regulators.
Other stocks likely to be in focus included General Mills, Monsanto, Bed Bath & Beyond, due to report quarterly results later in the day.
Across the Atlantic, European stock markets were sharply higher. The EURO STOXX 50 surged 1.09%, France’s CAC 40 jumped 1.79%, Germany's DAX rallied 1.59%, while Britain's FTSE 100 gained 1.09%.
During the Asian trading session, Hong Kong's Hang Seng Index soared 2.43%, while Japan’s Nikkei 225 Index tumbled 1.04%.
Later in the day, the U.S. was to release revised data on first quarter economic growth.