NEW YORK (
) -- 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
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.
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.
ordered to pay interest on the $1.3 billion in damages that it owes to
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.