Market Hustle: Futures Higher on Stronger World Growth Forecasts
NEW YORK (TheStreet) -- Stock futures were rising Wednesday as gains in offshore markets and an improved outlook from the World Bank helped buoy sentiment.
On the economic calendar, the Empire State Manufacturing Index for January and Producer Price Index for December are due at 8.30 a.m. EST, with expectations for a 0.4% rise in the latter. The Beige Book, a report on economic conditions used at Federal Open Market Committee meetings, is due at 2 p.m.
In Fed speak, Chicago Federal Reserve Bank President Charles Evans will speak at an economic forecast lunch in Iowa at 12:50 p.m. while Atlanta Federal Reserve Bank President Dennis Lockhart will speak on the economy and monetary policy in Atlanta at 5:20 p.m.
Markets closed higher Tuesday, bolstered by stronger than expected retail sales and merger activity.
In earnings, Bank of America (BAC) is due to post fourth-quarter earnings per share of 26 cents on revenue of $21.2 billion. Apple (AAPL) shares were rising more than 1% in premarket trade after China Mobile's (CHL) chairman said the company's deal with Apple would involve broad cooperation between the companies and noted millions of iPhones had already been ordered by its customers.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV