U.S. stock futures were trading in a narrow range on Wednesday. Dow Jones Industrial Average index stock futures fell 0.02% to 13,907. Standard & Poor's 500 index stock futures were up 0.1% at 1,507. Nasdaq-100 index stock futures rose 0.2% to 2,753. Stocks bounced back Tuesday following a surge in U.S. home prices and signs of strength in Europe's economy. The rebound came after the three major indexes suffered their biggest one-day declines of 2013 in the previous trading session. The Dow rose 99.22 points to 13,979. Standard & Poor's 500 index ended 15.58 points higher at 1,511. The tech-heavy Nasdaq composite index rose 40.41 points to 3,171. Japan drove gains in Asian shares Wednesday as the yen slid to a near three-year low following the early resignation of the Bank of Japan governor. The Nikkei 225 stock index surged 3.8% to 11,463 as export shares soared on expectations of stronger sales thanks to the yen's fall against other major currencies. The Japanese yen was trading at 93.80 yen per U.S. dollar, its lowest level in almost three years after BOJ Gov. Masaaki Shirakawa announced he will step down three weeks early for logistical reasons. Some investors took it as sign that whoever replaces Shirakawa will be likely to comply with pressure from the government to ease monetary policy to help stimulate economic growth. Hong Kong's Hang Seng index rose 0.5% to 23,256. "The recovery in overseas markets provided an excuse for the market to bounce back" after falls earlier in the week, said Kwong Man Bun, chief operating officer at KGI Securities in Hong Kong. Regional markets in Europe were mostly lacking direction. The Stoxx Europe 600 benchmark index traded flat. In energy markets, benchmark crude oil for March delivery was down 2 cents to $96.47 per barrel in electronic trading on the New York Mercantile Exchange.

Source