Investing.com - U.S. stock futures pointed to a higher open on Wednesday, as investors eyed the minutes of the Federal Reserve’s most recent policy meeting, while concerns over the debt crisis in the euro zone continued to linger.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a 0.41% rise, S&P 500 futures signaled a 0.42% increase, while the Nasdaq 100 futures indicated a 0.34% gain.
Market sentiment remained vulnerable after Germany’s Constitutional Court delayed on Tuesday its decision on whether the euro zone's bailout fund, the European Stability Mechanism, is compatible with German law.
Without German backing, the ESM, which was originally meant to start on July 1, then delayed to July 9, cannot come into effect.
Meanwhile, Spanish Prime Minister Mariano Rajoy announced EUR65 billion of new austerity measures, in an effort to meet new budget-deficit targets agreed with euro zone partners.
Market analysts warned that the fresh austerity measures were likely to drag Spain’s economy deeper in to a recession.
The tech sector was likely to be active, after Research In Motion shareholders elected the company's slate of directors at its annual meeting on Tuesday. The BlackBerry maker's shares tumbled 2.33% in pre-market trade.
Shares in Applied Materials were also down 0.19% in late trading, after the chip-equipment maker said it expects to miss its full-year estimates and its third-quarter results will be at the low end of its previous outlook.
Advanced Micro Devices Inc., the second-biggest maker of processors for personal computers, edged up 0.20% in after hour trade, however. Shares had plunged 11% on Tuesday, after the company announced an unexpected drop in sales.
In the financial sector, HSBC Holdings rose 0.62% in pre-market trade, on reports the bank was to apologize at a July 17 U.S. Senate hearing for anti-money laundering controls that weren’t effective enough, according to Bloomberg.
Europe’s largest bank was to be questioned by U.S. lawmakers about two weeks after a record fine was levied against Barclays for rigging interest rates and its ex-CEO Robert Diamond testified in the U.K.
Elsewhere, Goldcorp was slated to move on Wednesday after the gold producer cut its full year guidance for production levels, sending shares down 3.40% in early trading. The company cited reduced output at mines in Ontario and in Mexico.
Other stocks in focus included Marriott and Texas Instruments, both slated to release second quarter earnings after the closing bell.
Across the Atlantic, European stock markets were mixed. The EURO STOXX 50 climbed 0.43%, France’s CAC 40 fell 0.22%, Germany's DAX advanced 0.59%, while Britain's FTSE 100 was flat.
During the Asian trading session, Hong Kong's Hang Seng Index eased down 0.3%, while Japan’s Nikkei 225 Index shed 0.2%.
Later in the day, the U.S. was to release official data on trade balance and crude oil stockpiles, followed by the minutes of the Federal Reserve’s June policy-setting meeting.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a 0.41% rise, S&P 500 futures signaled a 0.42% increase, while the Nasdaq 100 futures indicated a 0.34% gain.
Market sentiment remained vulnerable after Germany’s Constitutional Court delayed on Tuesday its decision on whether the euro zone's bailout fund, the European Stability Mechanism, is compatible with German law.
Without German backing, the ESM, which was originally meant to start on July 1, then delayed to July 9, cannot come into effect.
Meanwhile, Spanish Prime Minister Mariano Rajoy announced EUR65 billion of new austerity measures, in an effort to meet new budget-deficit targets agreed with euro zone partners.
Market analysts warned that the fresh austerity measures were likely to drag Spain’s economy deeper in to a recession.
The tech sector was likely to be active, after Research In Motion shareholders elected the company's slate of directors at its annual meeting on Tuesday. The BlackBerry maker's shares tumbled 2.33% in pre-market trade.
Shares in Applied Materials were also down 0.19% in late trading, after the chip-equipment maker said it expects to miss its full-year estimates and its third-quarter results will be at the low end of its previous outlook.
Advanced Micro Devices Inc., the second-biggest maker of processors for personal computers, edged up 0.20% in after hour trade, however. Shares had plunged 11% on Tuesday, after the company announced an unexpected drop in sales.
In the financial sector, HSBC Holdings rose 0.62% in pre-market trade, on reports the bank was to apologize at a July 17 U.S. Senate hearing for anti-money laundering controls that weren’t effective enough, according to Bloomberg.
Europe’s largest bank was to be questioned by U.S. lawmakers about two weeks after a record fine was levied against Barclays for rigging interest rates and its ex-CEO Robert Diamond testified in the U.K.
Elsewhere, Goldcorp was slated to move on Wednesday after the gold producer cut its full year guidance for production levels, sending shares down 3.40% in early trading. The company cited reduced output at mines in Ontario and in Mexico.
Other stocks in focus included Marriott and Texas Instruments, both slated to release second quarter earnings after the closing bell.
Across the Atlantic, European stock markets were mixed. The EURO STOXX 50 climbed 0.43%, France’s CAC 40 fell 0.22%, Germany's DAX advanced 0.59%, while Britain's FTSE 100 was flat.
During the Asian trading session, Hong Kong's Hang Seng Index eased down 0.3%, while Japan’s Nikkei 225 Index shed 0.2%.
Later in the day, the U.S. was to release official data on trade balance and crude oil stockpiles, followed by the minutes of the Federal Reserve’s June policy-setting meeting.