US stock futures pointed to a higher open after Monsanto reported better-than-expected earnings today and gold rallies to a new high. There are no major economic data due for Wednesday.
Ahead of the opening bell, Dow Industrial Average futures were up 66 points, or 0.54 percent to 12,393. Standard and Poor's 500 futures were trading higher by 8.10 points, or 0.61 percent at 1,334.80, while NASDAQ 100 futures stood at 2,341.75, up 18.50 points, or 0.80 percent today.
Hot Stocks of the Day: DISH, BBBY, AMSC, MON
Dish Network Corp. (Nasdaq: DISH) said today, that it has won Blockbuster Inc. bankruptcy auction for about $320 million. The company is expected to pay $228 million in cash to acquire Blockbuster during its second quarter. DISH's stock last trading price was $24.31 on April 5, 2011.
American Superconductor Corp. (Nasdaq: AMSC) lost 43.13 percent to $14.15 in the pre-market session of trading, after the company cut its earnings and revenue forecast. The company expects to report a loss in its fourth quarter and expects revenue to be less than $42 million.
Monsanto Company (NYSE: MON) reported its second quarter earnings of $1.88 per share, beating analysts forecast of $1.84 per share. Monsanto shares added 1.90 percent to $75 in the pre-market trading.
Bed Bath & Beyond Inc. (Nasdaq: BBBY) is expected to report its fourth quarter FY 2010 earnings after the closing bell on Wednesday. Analysts expect earnings to be $0.97 per share for the quarter. BBBY last traded at $48.90 on April 5, 2011.
Global Markets: FTSE, CAC40, DAX, Nikkei 225, Straits Times, Hang Seng, Shanghai Composite Index
Asian markets closed mixed today. Singapore's Straits Times closed higher at 3,164.60 gaining 17.85 points or 0.57 percent, while Japan's Nikkei closed at 9,584.37, losing 31.18 points or 0.32 percent. Hong Kong's Hang Seng stood at 24,285.05, up 134.47 points or 0.56 percent. India's BSE 30 closed at 19,612.20, down 74.62 points or 0.38 percent and China's Shanghai Composite Index closed higher by 33.82 points or 1.14 percent to 3,001.23.
European indexes were trading higher on mid-day Wednesday. Britain's FTSE 100 was trading up by 35.05 points, or 0.58 percent to 6,042.11, while France's CAC40 trading up by 7.19 points, or 0.18 percent to 4,048.93. Germany's DAX was trading higher by 49.59 points, or 0.69 percent to 7,224.90.
Oil prices above $108 per barrel and Euro hits 15-month high
Ahead of the opening bell, Crude oil was trading lower by 0.14 points or 0.13 percent to $108.20 per barrel, while Gold stood at 1,459.80, up 8 points or 0.55 percent on Wednesday.
In the Currency Market, Euro was trading higher by 0.54 percent to 1.4296 against US Dollar, while US Dollar lost 0.06 percent at ¥85.1150 against JPY. British Pound is trading lower by 0.01 percent to $1.6295 against US Dollar on Wednesday.
On Tuesday, Wall Street closed flat, with Dow Jones Industrial Average marginally down 6.13 points, or 0.05 percent to settle at 12,393.90, over Monday's close. NASDAQ closed at 2,791.19, adding 2 points or 0.07 percent, while Standard & Poor's 500 gained 0.24 points, or 0.02 percent to 1,332.63.