Premarket futures were forecasting a higher open for U.S. stocks Wednesday, after financial firms found either private or public funding as the credit crisis wears on.
Futures for the
were up 14 points at 1201, and were 12 points above fair value.
futures were better by 25 points at 1675, and were 18 ahead of fair value.
On Tuesday, stocks finished on the downside after traders watched Treasury Secretary Henry Paulson and
Chairman Ben Bernanke outline for Congress their $700 billion bailout package for financial-services firms.
After the close of the trading session Tuesday, several financial firms signed deals to raise capital. Insurance giant
agreed to a
with the Fed.
Warren Buffett's Berkshire Hathaway
inked a deal to buy as much as a $10 billion stake in
. Goldman, along with rival
, on Sunday agreed to become a bank holding company instead of an investment bank.
Berkshire wasn't the only firm that may grab a piece of Goldman.
may invest between 100 billion and 300 billion yen in Goldman, although there are conflicting reports about a potential deal.
reports that the FBI is spearheading a
into AIG, bankrupt brokerage
. The four companies are at the center of the government's $700 billion bailout package.
The Fed also went ahead with development of $30 billion in
to provide liquidity to overseas markets.
Outside the financial sector,
were prepping for discussions about
, according to a report in the
As for economic data, the National Association of Realtors' look at August existing-home sales is due for release, as is the Energy Information Administration's report on crude oil inventories for the week ended Sept. 20.
In commodities, crude oil was rising $1.67 to $108.28 a barrel, and gold was gaining $1.30 to $892.50 an ounce.
Longer-dated U.S. Treasury securities were rising in price. The 10-year note was up 6/32 to yield 3.77%, and the 30-year was gaining 9/32, yielding 4.36%. The dollar was gaining on the euro, yen and pound.
Overseas indices were mostly making gains. The FTSE in London and the DAX in Frankfurt were trading higher. Japan's Nikkei and Hong Kong's Hang Seng finished the day in the green.