(By Salman - iStockAnalyst Writer)US stock futures were changed little on Wednesday as investors remained cautious ahead of the release of Fed Biege book.
At 8:11 am ET, the S&P 500 futures rose 0.50 10.20 points to 1025.60. The Dow Jones Industrial Average futures climbed 4 points to 9500. The Nasdaq Composite futures dropped 2.50 points to 1652.75.
Early on Wednesday, McDonald's Corp. (NYSE:
MCD) announced that its global comparable sales climbed 2.2% in August. US Sales rose 1.7% while it increased 3.5% in Europe. Sales in Asia/Pacific, Middle East and Africa dropped 0.5%.
Talbots Inc.(NYSE:
TLB) reported that its second-quarter loss narrowed to $24.5 million, or 45 cents a share, from $25 million, or 47 cents a share, in the year-ago period. Excluding charges, the women's clothing retailer's loss from continuing operations was 33 cents a share. Revenue slipped to $304.6 million from $395.2 million.
Shares of drugmaker Vivus (NASDAQ:
VVUS) soared in pre-market trading after it announced that it had successfully completed two late-stage studies for its experimental weight loss drug, Qnexa.
Palm Inc. (NASDAQ:
PALM) on Wednesday unveiled a new cellphone called the Pixi. It also announced that it is dropping the price of its Pre smartphone by $50 to $150, with a two-year service agreement and after a $150 instant rebate and $100 mail-in rebate.
The Mortgage Bankers Association reported Wednesday that mortgage applications to surge a seasonally adjusted 17% last week from the previous week.
Late on Tuesday, Casey's General Stores (NASDAQ:
CASY) said that its fiscal first quarter net income jumped to $44.2 million, or 87 cents per share, in the three months that ended July 31, from $28.8 million, or 57 cents per share, in the year-ago quarter. Revenue declined 24% to $1.19 billion.
On the economic front,
Fed will remain in focus on Wednesday, as the central bank releases its Beige Book at 2 pm Eastern time.
US stocks finished higher on Tuesday as news about corporate takeovers buoyed commodity shares.
European stocks climbed in afternoon trade. At 12:20 pm London time, the UK FTSE advanced 21.61 points or 0.44% to 4,968.95. The German DAX and French CAC added 0.42% and 0.25% respectively.
Asian stocks finished down. The Nikkei 225 fell 81.09 points or 0.78% to 10,312.14. The Hang Seng index of Hong Kong dropped 218.77 points or 1.04% to 20,851.04.
NYMEX crude oil for October delivery declined as much as 3 cents to $71.07 a barrel in electronic trading.
Disclosure: Author doesn't own any of the stocks discussed here.
