Stock futures are indicating a higher open on Wall Street Wednesday, bouncing back from the previous day’s losses as the U.S. dollar resumes its decline.
An upbeat profit and sales forecast from chip maker Texas Instruments Inc. is also helping to boost futures. The technology giant said late Tuesday that it is seeing an increase in demand for chips used in cell phones and other electronics.
Ahead of the market’s open, Dow Jones industrial average futures rose 39, or 0.4 per cent, to 10,310. Standard & Poor’s 500 index futures gained 5.30, or 0.5 per cent, to 1,095.30, while Nasdaq 100 index futures rose 6.50, or 0.4 per cent, to 1,775.
Commodities prices rose as the weaker dollar made them more attractive to foreign buyers. Silver and copper prices rose, while gold hovered at $1,143 (U.S.) an ounce. Oil prices jumped $1.03 to $73.65 a barrel in electronic premarket trading on the New York Mercantile Exchange.
Overseas, Japan’s Nikkei stock average fell 1.3 per cent and Hong Kong’s Hang Seng index fell 1.4 per cent. In late morning trading, Britain’s FTSE 100 inched up 0.1 per cent, Germany’s DAX index was down 0.2 per cent, and France’s CAC-40 slipped 0.2 per cent.
