Investing.com - U.S. stock futures pointed to a higher open on Wednesday, amid speculation that European leaders may consider recapitalizing financial institutions in an attempt to support the region's faltering banking sector.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a rise of 0.13%, S&P 500 futures signaled a 0.26% increase, while the Nasdaq 100 futures indicated a 0.16% rise.
Market sentiment lifted earlier, after the Financial Times reported that euro zone finance ministers were thinking of ways to recapitalize the region's struggling banks, signaling a new sense of urgency from policymakers in the single currency bloc.
Lenders also posted strong gains, with shares in JPMorgan surging 6.55% and Citigroup jumping 5.54%, while Goldman Sachs saw shares climb 5.00% and Bank of America rose 4.16%.
In earnings, Costco Wholesale Corp shares were up 0.02% after the company said it missed fourth-quarter earnings and revenue expectations, while fast food chain operator Yum Brands reported a quarterly profit in line with expectations, sending shares up 2.04%.
On the downside, Apple shares fell 0.56%, after disappointing iPhone enthusiasts with a new version of the iPhone 4 and no iPhone 5.
Yahoo shares jumped 6.87%, after reports said the company was preparing to send financial information to potential buyers. On Monday, the struggling online media company and ABC News announced they were teaming up to share news content, reporting resources and original videos.
Alcoa, the biggest aluminum producer in the U.S. and Walt Disney also advanced, with shares increasing 2.47% and 2.96% respectively.
Newmont Mining Corp, one of the world's largest producers of gold was also down, with shares tumbling 3.15%, tracking lower gold prices.
Other stocks in focus included Bank of New York Mellon, which has been sued by New York federal and state prosecutors who are accusing the bank of cheating clients in foreign exchange transactions.
Earlier Wednesday, private sector data showed that U.S. non-farm private employment rose more-than-expected in September, increasing by 91K after a downwardly revised 89K the previous month.
Across the Atlantic, European stock markets were broadly higher. The EURO STOXX 50 rose 2.94%, France’s CAC 40 climbed 2.99%, Germany's DAX jumped 3.38%, while Britain's FTSE 100 posted a 2.33% increase.
During the Asian trading session, Japan’s Nikkei 225 Index fell 0.9%, while Hong Kong's Hang Seng Index was closed for a public holiday.
Later in the day, the Institute of Supply Management was to release data on service sector activity. The U.S. was to release a government report on crude oil inventories.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a rise of 0.13%, S&P 500 futures signaled a 0.26% increase, while the Nasdaq 100 futures indicated a 0.16% rise.
Market sentiment lifted earlier, after the Financial Times reported that euro zone finance ministers were thinking of ways to recapitalize the region's struggling banks, signaling a new sense of urgency from policymakers in the single currency bloc.
Lenders also posted strong gains, with shares in JPMorgan surging 6.55% and Citigroup jumping 5.54%, while Goldman Sachs saw shares climb 5.00% and Bank of America rose 4.16%.
In earnings, Costco Wholesale Corp shares were up 0.02% after the company said it missed fourth-quarter earnings and revenue expectations, while fast food chain operator Yum Brands reported a quarterly profit in line with expectations, sending shares up 2.04%.
On the downside, Apple shares fell 0.56%, after disappointing iPhone enthusiasts with a new version of the iPhone 4 and no iPhone 5.
Yahoo shares jumped 6.87%, after reports said the company was preparing to send financial information to potential buyers. On Monday, the struggling online media company and ABC News announced they were teaming up to share news content, reporting resources and original videos.
Alcoa, the biggest aluminum producer in the U.S. and Walt Disney also advanced, with shares increasing 2.47% and 2.96% respectively.
Newmont Mining Corp, one of the world's largest producers of gold was also down, with shares tumbling 3.15%, tracking lower gold prices.
Other stocks in focus included Bank of New York Mellon, which has been sued by New York federal and state prosecutors who are accusing the bank of cheating clients in foreign exchange transactions.
Earlier Wednesday, private sector data showed that U.S. non-farm private employment rose more-than-expected in September, increasing by 91K after a downwardly revised 89K the previous month.
Across the Atlantic, European stock markets were broadly higher. The EURO STOXX 50 rose 2.94%, France’s CAC 40 climbed 2.99%, Germany's DAX jumped 3.38%, while Britain's FTSE 100 posted a 2.33% increase.
During the Asian trading session, Japan’s Nikkei 225 Index fell 0.9%, while Hong Kong's Hang Seng Index was closed for a public holiday.
Later in the day, the Institute of Supply Management was to release data on service sector activity. The U.S. was to release a government report on crude oil inventories.