NEW YORK (
) -- Stock futures were pointing to a slightly higher open Wednesday as investors looked past weak U.S. durable goods data to focus on upcoming votes on adjustments to the eurozone's bailout fund.
Futures for the
Dow Jones Industrial Average
were gaining 34 points, or 40 points above fair value, at 11,154. Futures for the
were up by 2 points, or 2 points above fair value, at 1171 and
futures were ahead by 4 points, or 9 points above fair value.
Stocks came down from session highs in the final stretch of trading on Tuesday after a
report said as many as seven of the eurozone's 17 members are demanding that private creditors take bigger writedowns on their holdings of Greek bonds. Earlier in the afternoon, stocks surged on news that the Greek Parliament approved a new property tax, which was considered crucial for the debt-laden country to get its next bailout installment.
Belief that European leaders are committed to taking action to stabilize the eurozone have helped fuel U.S. equities to three consecutive sessions of gains despite recent fears of a U.S. slowdown. On Wednesday, European Commission President
Jose Manuel Barroso's
comments urging more unification in Europe during a speech to the European Parliament kept confidence up. Barroso said leaders should do whatever it takes to protect the eurozone.
The comments seemed to be helping markets overlook a dip in August durable goods orders. The U.S. Census Bureau said orders dipped 0.1% in August, missing expectations for an uptick of 0.2%. Orders, excluding transportation, also fell by 0.1%. August's declines compare to growth of 4.1% and 0.7%, respectively, in July.
Investors are also awaiting key votes regarding proposed changes to the European Financial Stability Facility. Finland's parliament gave their approval on Wednesday, a day after Slovenia gave its okay. Germany is scheduled to vote on Thursday.
The FTSE in London was ticking 0.08% higher, and the DAX in Frankfurt was advancing 0.9%. Overnight, in Asia, the Hong Kong's Hang Seng lost 0.7%, while Japan's Nikkei added 0.07%.
Indications that the European Central Bank was open to a leverage plan have been helping the U.S. market lately. The correction has also partly been fueled by short-covering and window dressing ahead of the quarter's end. Speculation that the ECB might cut the key interest rate soon has also helped investors take more risk.
The November crude oil contract was shedding 15 cents to trade at $84.30 a barrel, and gold for December delivery was up by $5.90 to trade at $1,658.40 an ounce.
The dollar was weakening against a basket of currencies, with the dollar index down by 0.5%.
At 8:30 a.m. ET, the U.S. Census Bureau will release its August durable goods report. Economists are anticipating an uptick of 0.1%, after growth of 0.4% in July. Orders, excluding transportation, are slated to dip by 0.2%, after rising by 0.7% in July.
At 10:30 a.m., the Energy Information Administration is expected to report no change to crude oil inventories in the week ended Sept. 23, according to a Platts poll of analysts.
Late Tuesday, the American Petroleum Institute said crude supplies rose by 568,000 barrels last week.
Human resources and benefits outsourcing company
saw its stock advance 2.6% to $27.39 in early trading after it
by 3 cents a share with first-quarter earnings of 41 cents a share.
are gaining 1.3% to $227.01 ahead of a planned event in New York City on Wednesday. Analysts expect the company to reveal its first tablet device, according to a
Wall Street Journal
with an investment of more than $200 million. The stock was rising 0.8% to $543.78 ahead of Wednesday's opening bell.
The benchmark 10-year Treasury was declining 4/32, pushing the yield to 1.983%.
-- Written by Melinda Peer in New York
Disclosure: TheStreet's editorial policy prohibits staff editors and reporters from holding positions in any individual stocks.