Investing.com - U.S. stock futures pointed to an upbeat open on Wednesday, tracking European equities higher amid fresh hopes on a debt deal for Greece, while investors awaited key U.S. data on employment and manufacturing to gauge the strength of the U.S. economy.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a rise of 0.65%, S&P 500 futures signaled a 0.65% increase, while the Nasdaq 100 futures indicated a 0.5% gain.
U.S. future indices received a lift as European equities rallied after Greek newspaper Kathimerini reported that the head of the IMF mission to Athens said talks on a new loan program for the country will conclude within a matter of days.
Also supporting market sentiment were reports showing slowing contraction in euro zone manufacturing activity in January.
Market players were also awaiting data on U.S. non-farm employment change, as well as a report by the Institute for Supply Management on manufacturing activity to gauge the health of the U.S. economy and the need for further stimulus measures.
Shares in the financial sector advanced ahead of the open, tracking their European counterparts higher. Citigroup shares climbed 1.25%, JP Morgan added 0.8%, while U.S.-listed shares of Deutsche Bank and National Bank of Greece surged 2.1% and 3.3% respectively.
Seagate Technology saw shares climb 5.75% after the hard drive maker forecast higher annual sales than analysts estimated. Fiscal second quarter net income more than tripled to USD563 million.
Chip maker Broadcom added 2.2% after reporting stronger-than-expected quarterly earnings and raising its full-year earnings outlook.
Shares in NYSE Euronext, operator of the New York Stock Exchange, gained 0.8% after European Union regulators vetoed Deutsche Boerse planned acquisition of the exchange operator, citing competition grounds.
On the downside, Amazon saw shares tumble 8.45% after reporting weaker-than-expected fourth quarter earnings after Tuesday’s closing bell.
The online retail giant said fourth quarter revenue totaled USD17.4 billion, disappointing expectations for sales of USD18.3 billion. Net income during the quarter fell 57% to USD177 million.
Meanwhile, investors are awaiting news on social networking website, Facebook, which may file initial public offering papers as soon as Wednesday.
Across the Atlantic, European stock markets were up sharply, boosted by strong gains in the financial sector. The EURO STOXX 50 rallied 1.8%, France’s CAC 40 jumped 1.6%, Germany's DAX surged 1.95%, while Britain's FTSE 100 added 1.35%.
During the Asian trading session, Hong Kong's Hang Seng Index dipped 0.15%, while Japan’s Nikkei 225 Index eased up 0.1%.
Later Wednesday, the U.S. was to release official data on construction spending, total vehicle sales and crude oil supplies.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a rise of 0.65%, S&P 500 futures signaled a 0.65% increase, while the Nasdaq 100 futures indicated a 0.5% gain.
U.S. future indices received a lift as European equities rallied after Greek newspaper Kathimerini reported that the head of the IMF mission to Athens said talks on a new loan program for the country will conclude within a matter of days.
Also supporting market sentiment were reports showing slowing contraction in euro zone manufacturing activity in January.
Market players were also awaiting data on U.S. non-farm employment change, as well as a report by the Institute for Supply Management on manufacturing activity to gauge the health of the U.S. economy and the need for further stimulus measures.
Shares in the financial sector advanced ahead of the open, tracking their European counterparts higher. Citigroup shares climbed 1.25%, JP Morgan added 0.8%, while U.S.-listed shares of Deutsche Bank and National Bank of Greece surged 2.1% and 3.3% respectively.
Seagate Technology saw shares climb 5.75% after the hard drive maker forecast higher annual sales than analysts estimated. Fiscal second quarter net income more than tripled to USD563 million.
Chip maker Broadcom added 2.2% after reporting stronger-than-expected quarterly earnings and raising its full-year earnings outlook.
Shares in NYSE Euronext, operator of the New York Stock Exchange, gained 0.8% after European Union regulators vetoed Deutsche Boerse planned acquisition of the exchange operator, citing competition grounds.
On the downside, Amazon saw shares tumble 8.45% after reporting weaker-than-expected fourth quarter earnings after Tuesday’s closing bell.
The online retail giant said fourth quarter revenue totaled USD17.4 billion, disappointing expectations for sales of USD18.3 billion. Net income during the quarter fell 57% to USD177 million.
Meanwhile, investors are awaiting news on social networking website, Facebook, which may file initial public offering papers as soon as Wednesday.
Across the Atlantic, European stock markets were up sharply, boosted by strong gains in the financial sector. The EURO STOXX 50 rallied 1.8%, France’s CAC 40 jumped 1.6%, Germany's DAX surged 1.95%, while Britain's FTSE 100 added 1.35%.
During the Asian trading session, Hong Kong's Hang Seng Index dipped 0.15%, while Japan’s Nikkei 225 Index eased up 0.1%.
Later Wednesday, the U.S. was to release official data on construction spending, total vehicle sales and crude oil supplies.