Stock Market Today: Futures Rise After Three Days of Losses

NEW YORK (TheStreet) -- U.S. stock index futures were trading higher early Wednesday, poised to break out of a three-day losing streak.

Dow Jones Industrial Average futures were rising 43 points, or 39.13 points above fair value. S&P 500 futures were up 5 points, or 2.68 points above fair value. Nasdaq futures were 11.3 points higher, or 6.28 points above fair value. 

U.S. stocks fell for a third day Tuesday as U.S. fighter jets attacked strongholds of the Islamic State, Europe showed signs of economic weakness and the U.S. government announced tougher rules on corporate inversion deals.

Cleveland Federal Reserve Bank President Loretta Mester is expected to speak about the economic outlook, monetary policy, and communications at 12:05 p.m. EDT on Wednesday, while Chicago Fed President Charles Evans will talk about the labor markets in a speech at 1 p.m. Evans is likely to strike a dovish tone, while remarks from Mester could be more hawkish, said Laura Rosner, a U.S. economist at BNP Paribas. Mester votes on policy this year and Evans will do so next year.

Atlanta Federal Reserve President Dennis Lockhart will give a speech Thursday on the economy and monetary policy. According to Rosner, Lockhart tends to be a good bellwether of consensus thinking at the Federal Open Market Committee, the Federal Reserve's policy-making arm. He will vote on policy next year.

U.S. new home sales figures for August will be published at 10 a.m. EDT.

In corporate news headlines Wednesday, Citizens Financial Group (CFG) raised about $3 billion in its initial public offering that was priced at $21.50 a share, below the expected range.

Walmart (WMT) has partnered with prepaid cards issuer Green Dot to begin offering mobile checking accounts to customers over 18.

Pacific Investment Management Co. is being investigated by the Securities and Exchange Commission into whether the bond giant artificially boosted the returns of a popular fund aimed at small investors, The Wall Street Journal reported, citing people familiar with the matter. 

The fund has gained 3.5% over the past 52 weeks.

Pfizer (PFE) explored a potential tax-lowering takeover of Dublin-based rival Actavis in recent weeks, but talks between the two pharmaceutical companies have ended, the Journal reported, citing to a person familiar with the matter.

Bed Bath & Beyond (BBBY) reported fiscal second-quarter profit of $1.17 a share, topping Wall Street estimates by 3 cents. The stock surged 4.71% in premarket trading.

Following the massive data breach at Home Depot (HD) , reports of fraudulent charges are beginning to surface. Some are even draining bank accounts, according to UPI.

The SPDR Gold Trust (GLD) was trading lower by 0.19% early Wednesday.

-- By Andrea Tse and Kurumi Fukushima in New York

Follow @AndreaTTse

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