This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Market Hustle: Stocks Heat Up as Durable Goods Orders Rebound

NEW YORK (TheStreet) -- Stock futures were pointing to a higher open on Wall Street Wednesday after a stronger-than-expected rebound in durable goods orders bolstered the outlook for the manufacturing sector and U.S. growth.

Futures were extending earlier gains that were driven by talk of stimulus out of Europe and China.

  • Dow Jones Industrial Average futures were adding on 58 points, or 69.12 points above fair value, at 16,356, S&P 500 futures were ahead by 6 points, or 7.53 points above fair value, to 1,865.25, Nasdaq futures were rising 15.7 points, or 19.37 points above fair value, to 3,639.5.
  • U.S. durable goods orders increased by a more-than-expected 2.2% in February. Economists were expecting a 1% rebound.
  • The March Markit PMI Services Flash data will be released at 9:45 a.m. EDT.
  • European Central Bank governing council member and Bundesbank head, Jens Weidmann, said Wednesday that negative interest rates are being considered to help cool down the euro and that quantitative easing proposals were also being discussed amid the fight against deflationary pressures.
  • China stimulus talk was heating up after the approval of five railway projects by China's main economic planning agency.
  • President Barack Obama's speech on Wednesday was focusing on the significance of Europe's role in global democracy and the potential global consequences of Russia's usage of military force in Ukraine as the president tries to convince European allies to back sanctions against Russia.
  • International markets were broadly higher, with the FTSE 100 gaining 0.54%, the DAX in Germany up more than 1%, the Hong Kong Hang Seng settling up 0.72%, and the Nikkei 225 in Japan closing up 0.37%.
  • Stock markets closed higher Tuesday amid the release of housing data which underscored the ongoing economic recovery despite being slightly below expectations.
  • Toyota (TM) was advancing 2.57% in premarket trading as it gets ready to repurchase up to 1.89% of its shares, worth as much as $3.5 billion.
  • King Digital (KING) begins trading on the New York Stock Exchange Wednesday after pricing its IPO of 22.2 million shares at $22.50 a share. It raised close to $500 million.
  • Blackstone Group (BX) was poised for action after Reuters reported that the firm is close to a deal to buy industrial conglomerate Gates Global for more than $5.5 billion.

-- By Andrea Tse in New York

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • 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 Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,880.36 -31.75 -0.19%
S&P 500 1,970.07 +0.12 0.01%
NASDAQ 4,462.9020 +20.2040 0.45%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs