Investing.com - U.S. stock futures pointed to a mildly lower open on Wednesday, with trading turning choppy after U.S. President Barack Obama defeated Republican Mitt Romney to secure a second term.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a loss of 0.4%, S&P 500 futures signaled a 0.4% decline, while the Nasdaq 100 futures indicated a 0.45% drop.
U.S. equity futures erased losses to turn positive after President Obama was declared as winner of the U.S. presidential election.
Obama won 303 electoral votes, more than the 270 needed to secure a second term in the White House, while Republican challenger Mitt Romney won 206 electoral votes.
Market sentiment firmed up and the U.S. dollar came under pressure following the news, as an Obama victory reinforced expectations that the Federal Reserve’s policy of quantitative easing will remain in place.
President Obama now needs to address a so-called “fiscal cliff”, approximately USD600 billion in tax hikes and spending cuts due to come into effect on January 1.
Markets now turned their attention to Greece, where country’s parliament prepared to vote on the latest rounds of austerity measures later in the day, which could determine if the debt-strapped country receives its next tranche of financial aid.
Shares in Macy’s, CBS, Time Warner and Kraft Foods were expected to be active, as all four companies report earnings before the opening bell.
Other stocks in focus included Whole Foods and Monster Beverage, which were both due to report earnings after the closing bell.
Across the Atlantic, European stock markets came off the highest levels of the day, as sentiment weakened following the release of weak euro zone economic data and as investors looked ahead to a Greek parliamentary vote on an austerity bill.
The EURO STOXX 50 was up 0.1%, France’s CAC 40 advanced 0.2%, Germany's DAX rose 0.1%, while Britain's FTSE 100 added 0.1%.
During the Asian trading session, Hong Kong's Hang Seng Index climbed 0.7%, while Japan’s Nikkei 225 Index was little changed.
Markets in Asia were eyeing the start of the Chinese Communist Party Congress on Thursday, where a once-in-a-decade leadership change is to take place.
Xi Jinping will probably replace Hu Jintao as general secretary of the party, with investors looking for clues on how the new leadership plans to address the nation's economic slowdown.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a loss of 0.4%, S&P 500 futures signaled a 0.4% decline, while the Nasdaq 100 futures indicated a 0.45% drop.
U.S. equity futures erased losses to turn positive after President Obama was declared as winner of the U.S. presidential election.
Obama won 303 electoral votes, more than the 270 needed to secure a second term in the White House, while Republican challenger Mitt Romney won 206 electoral votes.
Market sentiment firmed up and the U.S. dollar came under pressure following the news, as an Obama victory reinforced expectations that the Federal Reserve’s policy of quantitative easing will remain in place.
President Obama now needs to address a so-called “fiscal cliff”, approximately USD600 billion in tax hikes and spending cuts due to come into effect on January 1.
Markets now turned their attention to Greece, where country’s parliament prepared to vote on the latest rounds of austerity measures later in the day, which could determine if the debt-strapped country receives its next tranche of financial aid.
Shares in Macy’s, CBS, Time Warner and Kraft Foods were expected to be active, as all four companies report earnings before the opening bell.
Other stocks in focus included Whole Foods and Monster Beverage, which were both due to report earnings after the closing bell.
Across the Atlantic, European stock markets came off the highest levels of the day, as sentiment weakened following the release of weak euro zone economic data and as investors looked ahead to a Greek parliamentary vote on an austerity bill.
The EURO STOXX 50 was up 0.1%, France’s CAC 40 advanced 0.2%, Germany's DAX rose 0.1%, while Britain's FTSE 100 added 0.1%.
During the Asian trading session, Hong Kong's Hang Seng Index climbed 0.7%, while Japan’s Nikkei 225 Index was little changed.
Markets in Asia were eyeing the start of the Chinese Communist Party Congress on Thursday, where a once-in-a-decade leadership change is to take place.
Xi Jinping will probably replace Hu Jintao as general secretary of the party, with investors looking for clues on how the new leadership plans to address the nation's economic slowdown.