MW: U.S. stocks: Futures up; new home sales on deck
LONDON (MarketWatch) — U.S. stock futures indicated gains for Wall Street on Wednesday, with housing data expected to show a modest bump up in sales and investors on the lookout for hints about interest rates from two Federal Reserve members due to speak.
Futures for the Dow Jones Industrial Average DJZ4, +0.14% rose 20 points, or 0.1%, to 16,983, while those for the S&P 500 index SPZ4, +0.25% picked up 2.7 points, or 0.2%, to 1,974.90. Futures for the Nasdaq 100 index NDZ4, +0.33% tacked on 1.7 points, or 0.1%, to 4,038,50.
A gain for Wall Street would break three straight sessions of losses. Stocks fell Tuesday as investors flocked to perceived safe-haven investments such as U.S. Treasurys on concerns about slowing global growth and escalating war in the Middle East. The S&P 500 SPX, -0.58% lost 0.6% Dow industrials DJIA, -0.68% gave up 0.7%, and the Nasdaq Composite COMP, -0.42% declined 0.4%.
Data: At 10 a.m. Eastern, the U.S. Commerce Department will release its report on August new home sales. Analysts are looking for a modest gain to a seasonally adjusted annual rate of 426,000. The pace of sales in July fell to a four-month low at 412,000.
Stocks to watch: The Securities and Exchange Commission’s enforcement division is investigating whether bond giant Pacific Investment Management Co., run by investor Bill Gross, artificially boosted the returns its Pimco Total Return BOND, +0.08% exchange-traded fund, The Wall Street Journal reported late Tuesday.
Shares of Citizens Financial Group CFG, +0.00% are expected to begin trading on the New York Stock Exchange. The regional bank’s initial public offering price of $21.50 a share is below the company’s expected range of between $23 and $25 a share.
Bed, Bath & Beyond BBBY, +6.65% shares surged in late trade on earnings.
Shares of Atossa Genetics ATOS, -4.12% lost half their value late Tuesday after the Food and Drug Administration didn’t clear its ForeCYTE breast aspirator for marketing in the U.S.
Starbucks SBUX, -0.86% could be in focus on news it’s moving to take full ownership of its Japanese operations for more than $900 million.
Lipocine LPCN, -4.74% is slated to hold a conference call discuss “top-line results” from its late-stage study of an oral Androgen replacement.
Other markets: Japan’s Nikkei Average NIK, -0.24% shed 0.2%. Meanwhile, the dollar fell against the yen USDJPY, -0.17% after Japan’s prime minister said he’s cautious about the yen’s recent weakness.
European stocks SXXP, +0.20% slipped following their worst session since July on Tuesday. Gold futures GCZ4, -0.02% edged up and oil futures CLX4, -0.16% were little changed ahead of weekly supply data from the U.S. Energy Information Administration.
