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.
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