(RTTNews) - U.S. stock futures point to a higher open Wednesday morning following two successive days of mixed closing, with the S&P struggling to breakthrough the crucial resistance, amid relatively thin volumes. Traders might ponder on the plan unveiled by the Securities Exchange Commission to protect the market from extreme volatility and avoid flash crashes, on a day of light economic data. Increasing optimism about the sustainability of the economic recovery and expectations for a possible change in monetary policy stance later in the year might also be in traders' radar.
As at 6.15 a.m. ET, the Dow futures were up by 51.00 points; the S&P futures were up 6.50 points and the tech-heavy Nasdaq futures were up 12.75 points from previous close.
On the economic front, traders will be presented with the MBA Mortgage Application Index at 7.00 a.m. ET.
At 10.30 a.m. ET, the Energy Information Administration will release the weekly crude oil inventory report for the week ended April 1.
In corporate news, pharmaceutical stocks might be in focus after Cephalon (CEPH) said that its Board of Directors had formally rejected Valeant Pharmaceutical's March 29th unsolicited proposal to purchase the company for $73 per share, citing inadequacy of the proposal and being not in the best interest of Cephalon's shareholders as the reasons for rejection.
Specialty biopharmaceutical company Shire Plc (SHPGY) announced that its subsidiary Shire LLC has filed a law suit against Watson Pharmaceuticals and its subsidiaries for infringement of some of its patents and for breach of contract.
Curtiss-Wright Corporation (CW) announced that it has been selected by The Boeing Company to provide emergent and specialty production support for the final assembly and delivery of the 787 Dreamliner in South Carolina.
Applied Materials, Inc. (AMAT) has stated that it has signed a definitive agreement with Quantum Global Technologies, LLC wherein the latter will acquire the assets of Applied Materials' Chamber Performances Services (CPS) semiconductor process kit precision cleaning, coating services and associated analytical testing services businesses for an undisclosed cash amount. The deal is expected to close within 30 days.
Oil Light sweet crude oil for May delivery is presently quoting at $108.17, down $0.17 a barrel from its previous close of $108.34 in New York on Tuesday.
Dollar The US dollar is trading lower against the euro as the latter gained on expectations of a interest rate hike by the ECB. The greenback is recovering from a 2-week low versus the pound amid disappointing UK industrial production data. The dollar has eased slightly from nearly a 6 1/2-month high against the Japanese yen.
World Markets Mixed trading was witnessed across the markets in Asian region amid relatively thin volumes on concerns about the global economic recovery. While the markets in India, Japan and South Korea ended in the red with modest losses, those in Australia, China, Hongkong, Singapore and Taiwan ended in positive territory with moderate gains. The European markets are trading in the green ahead of ECB's interest rate announcement on Thursday.
Source: www.rttnews.com
As at 6.15 a.m. ET, the Dow futures were up by 51.00 points; the S&P futures were up 6.50 points and the tech-heavy Nasdaq futures were up 12.75 points from previous close.
On the economic front, traders will be presented with the MBA Mortgage Application Index at 7.00 a.m. ET.
At 10.30 a.m. ET, the Energy Information Administration will release the weekly crude oil inventory report for the week ended April 1.
In corporate news, pharmaceutical stocks might be in focus after Cephalon (CEPH) said that its Board of Directors had formally rejected Valeant Pharmaceutical's March 29th unsolicited proposal to purchase the company for $73 per share, citing inadequacy of the proposal and being not in the best interest of Cephalon's shareholders as the reasons for rejection.
Specialty biopharmaceutical company Shire Plc (SHPGY) announced that its subsidiary Shire LLC has filed a law suit against Watson Pharmaceuticals and its subsidiaries for infringement of some of its patents and for breach of contract.
Curtiss-Wright Corporation (CW) announced that it has been selected by The Boeing Company to provide emergent and specialty production support for the final assembly and delivery of the 787 Dreamliner in South Carolina.
Applied Materials, Inc. (AMAT) has stated that it has signed a definitive agreement with Quantum Global Technologies, LLC wherein the latter will acquire the assets of Applied Materials' Chamber Performances Services (CPS) semiconductor process kit precision cleaning, coating services and associated analytical testing services businesses for an undisclosed cash amount. The deal is expected to close within 30 days.
Oil Light sweet crude oil for May delivery is presently quoting at $108.17, down $0.17 a barrel from its previous close of $108.34 in New York on Tuesday.
Dollar The US dollar is trading lower against the euro as the latter gained on expectations of a interest rate hike by the ECB. The greenback is recovering from a 2-week low versus the pound amid disappointing UK industrial production data. The dollar has eased slightly from nearly a 6 1/2-month high against the Japanese yen.
World Markets Mixed trading was witnessed across the markets in Asian region amid relatively thin volumes on concerns about the global economic recovery. While the markets in India, Japan and South Korea ended in the red with modest losses, those in Australia, China, Hongkong, Singapore and Taiwan ended in positive territory with moderate gains. The European markets are trading in the green ahead of ECB's interest rate announcement on Thursday.
Source: www.rttnews.com
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