Stock futures have steadily improved in pre-market trading, indicating at least a steady to firmer open to start regular trading. Stocks gained Tuesday, stretching the recent record of the the broad S&P 500 to 10 advances in the last 13 sessions. Asian stocks fell overnight, while Europe is trading mostly firmer so far.
Wall Street is awaiting the 2:15 p.m. ET release of a Federal Reserve statement as the central bank wraps up its two-day meeting.
Stocks are finding some support on expectations that Ben Bernanke and company will leave monetary policy overly accommodative for the time being. No rate hike is expected, but attention will key in on the statement and any clues in it on the timing of the reversal of easy credit conditions. Investors also want an update on the Fed's program to buy $1.25 trillion in mortgage-backed securities. The Fed has completed about two-thirds of those pledged purchases.
The dollar is slightly weaker against most major currencies. Oil futures are down $0.42 to $71.34 a barrel, while gold futures gave up earlier gains, more recently trading down $1.20 to $1,014.30.
Among active, news-driven movers this morning:
Quantum Fuel (
QTWW) is higher after Fisker Automotive and the US Department of Energy said late Tuesday they have agreed to terms for a loan of more than half a billion dollars to create affordable, fuel-efficient plug-in hybrid electric cars. Fisker uses QTWW's PHEV powertrain capabilities.
Interleukin Genetics (
ILI) announces top-line positive results from a retrospective clinical study on weight management using patients who participated in a diet study previously reported in the Journal of the American Medical Association. The new clinical study demonstrated that individuals following diets matched to their genotype, as determined by the Interleukin Genetics Weight Management Genetic Test, showed statistically significant greater weight loss and other benefits at all time points (2 months, 6 months and 12 months) when compared to individuals on diets not matched to their genotype.
Ford Motor (
F) unveils new small car called Figo for production in India. Car intended for domestic market and exports.
