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NEW YORK (
TheStreet) -- Stock futures were pointing to a higher open Wednesday after the prior session's broad, global selloff, indicating that the
S&P 500 could snap a two-day losing streak.
Futures for the
S&P 500 were rising 7.6 points to 1,627.5. Futures for the
Dow Jones Industrial Average were gaining 63 points, or 86.98 points above fair value, to 15,201. Futures for the
Nasdaq were up 11 points, or 15.86 points above fair value, to 2,974.5.
The benchmark 10-year Treasury was rising 2/32, diluting the yield to 2.184%. The dollar was up 0.12% to $81.21 according to the
U.S. dollar index
Major U.S. stock markets dropped alongside international markets on Tuesday as investor hopes for an expansion of coordinated global stimulus measures ebbed after the Bank of Japan elected not to implement more government bond purchases.
"Markets are still experiencing a lingering reaction to the Bank of Japan effectively declaring themselves to be at the limit of what Japanese monetary policy can do for now, and throwing the burden of economic growth back onto the hitherto non existent structural reform process," Paul Donovan, global economist at UBS, wrote in a note.
Vodafone(VOD), the U.K. mobile company, confirmed Wednesday it has offered to buy Germany's biggest cable television company,
Kabel Deutschland. Shares were falling more than 3.5% to $28.73 in premarket trading.
Vodafone has pursued a possible bid of €10 billion ($13.3 billion) for Kabel Deutschland since earlier this year, and hired
Goldman Sachs as an adviser, sources previously told
Institutional Shareholder Services, the proxy advisory firm, recommended that
Sprint(S) shareholders vote for the sweetened offer from Japan's
Softbank raised its offer for Sprint on Tuesday by $1.5 billion to $21.6 billion. Softbank also significantly increased the cash it will pay to Sprint's current investors.
PVH(PVH - Get Report), the clothing maker, is expected by analysts on Wednesday to post first-quarter earnings of $1.35 a share on revenue of $1.91 billion.
H&R Block(HRB - Get Report) is forecast to report fiscal fourth-quarter earnings of $2.61 a share on revenue of $2.28 billion.
The American Civil Liberties Union sued the federal government Tuesday in New York, asking a court to demand that the Obama administration end the sweeping surveillance programs by U.S. spy agencies and purge the phone records it has collected.
The ACLU is claiming standing as a customer of
Verizon(VZ), which was named last week as the phone company the government had ordered to turn over daily records of calls made by all its customers.
The Mortgage Bankers' Association publishes its latest purchase applications index report at at 7 a.m. EDT, while May Treasury budget numbers are expected to be released at 2 p.m.
The Nikkei 225 in Japan settled down 0.21%. The Hong Kong markets were closed for the annual Dragon Boat Festival. The FTSE 100 in London was rising 0.06%, while the DAX in Germany was up 0.11%.
August gold futures were falling $1.70 to $1,375.30 an ounce, while July oil futures were off a penny to $95.37 a barrel.
Follow @atwtseWritten by Andrea Tse in New York
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