NEW YORK (
) -- Stock futures were pointing to a stronger open Wednesday as investors cheered better-than-expected earnings from
Futures for the
Dow Jones Industrial Average
were higher by 72 points, or 66 points above fair value, at 11,029. Futures for the
were up by 9 points, or 7 points above fair value, at 1173 and
futures were ahead by 16 points, or 14 points above fair value.
Stocks turned positive Tuesday after the
meeting minutes showed members to be largely ready to enact further easing to strengthen the recovery.
JPMorgan Chase reported a third-quarter profit of $1.01 a share, exceeding Wall Street's estimates for earnings of 88 cents a share.
Dutch semiconductor equipment maker
reported better-than-expected third-quarter earnings and said sales more than doubled.
Intel topped earnings expectations by 2 cents a share and said strong demand was expected to continue in the fourth quarter.
Import prices fell 0.3% in September after increasing 0.6% in August, while export prices rose 0.6% compared with growth of 0.8% in August. Excluding oil, import prices ticked 0.3% higher after similar growth in the previous month, and September export prices excluding agriculture advanced 0.3% after previous growth of 0.5%.
At 2 p.m. EDT, the U.S. Treasury is expected to report a September budget deficit of $33.5 billion, compared with a deficit of $46.6 billion in the prior month, according to Briefing.com.
The American Petroleum Institute will release its weekly read on crude oil inventories at 4:30 p.m. The report is delayed by a day because of the Columbus Day holiday on Monday. Analysts, according to a Platts poll, are anticipating a build of 1.5 million barrels to crude stocks in the week ended Oct. 8.
In commodity markets, crude oil for November delivery was adding 98 cents to trade at $82.65 a barrel, and the December gold contract was gaining $11.70 to $1,358.40 an ounce.
Meanwhile, the dollar was trading lower against a basket of currencies, with the dollar index down by 0.3%, and the benchmark 10-year Treasury note fell 4/32, lifting the yield to 2.447%.
Overseas, Hong Kong's Hang Seng jumped 1.5%, and Japan's Nikkei inched 0.2% higher. The FTSE in London was rising 1.2%, and the DAX in Frankfurt was gaining 1.5%.
--Written by Melinda Peer in New York
Disclosure: TheStreet's editorial policy prohibits staff editors and reporters from holding positions in any individual stocks.