Stock Futures Hint at Higher Open - TheStreet



) -- U.S. stock futures pointed to a marginally higher open on Wednesday -- a day that's expected to be light on trading with no economic news scheduled for the session.

Futures for the

Dow Jones Industrial Average

were up by 11 points, or 8 points above fair value, at 11,520. Futures for the

S&P 500

were 1 point higher, or a little more than 1 points above fair value, at 1255, and


futures were ahead by 5 points, or nearly 5 points above fair value.

Stocks saw a mixed close to Tuesday's session as disappointing consumer and housing data kept gains in check.

On Wednesday,

China's Commerce Ministry said it will cut exports of rare earth minerals by 10% during the first half of 2011, allocating 14,446 tons of rare earths among 31 companies. According to an


report, China accounts for 97% of the global production of rare earths and minerals that are particularly needed by technology companies.

Hong Kong's Hang Seng gained 1.5%, and Japan's Nikkei added 0.5%. The FTSE in London was down by 0.3%, while the DAX in Frankfurt was ahead by 0.5%.

There are no economic releases scheduled for Wednesday's session.


(SAP) - Get Report

has been

ordered to pay interest on the $1.3 billion in damages that it owes to


(ORCL) - Get Report


Shares of

Dara BioSciences


were down 8.4% to $2.85 in early trading after the company said

it began a registered direct offering to sell up to $4 million worth of units, representing a marked dilution to existing shareholders.

In commodity markets, the February crude oil contract traded 62 cents lower to $90.87 a barrel. The February gold contract was down by 80 cents at $1,404.80 an ounce.

The dollar weakened against a basket of currencies with the dollar index down by 0.2%. The benchmark 10-year Treasury note strengthened 10/32, diluting the yield to 3.454%.


--Written by Melinda Peer in New York


Disclosure: TheStreet's editorial policy prohibits staff editors and reporters from holding positions in any individual stocks.