BENGALURU (Oct 7): U.S. stock index futures rose on Wednesday as crude oil prices increased for the fourth day in a row, with Brent crude touching its highest level in a more than a month.
Brent crude and U.S. light crude were up nearly 2%, with Brent touching US$52.99, after data showed a fall in U.S. stockpiles and inventories after two years of surplus.
Shares of Dow components Exxon and Chevron were up more than 1% premarket.
Global stocks were also boosted by mining and energy shares as investors bought into the prospect of continued support from the world's central banks.
Expectations that the Federal Reserve will lift interest rates off near-zero levels this year are fading, with concerns mounting about slowing global growth and its effect on corporate results.
S&P 500 companies are expected to report a 4.2% fall in third-quarter profit, the biggest decline in six years, according to Thomson Reuters data.
U.S. stocks closed lower on Tuesday, snapping a five-day winning streak, led by a rout in healthcare and biotech stocks.
Yum Brands slumped 16.3% to US$69.79, after it cut its full-year profit forecast due to a slower-than-expected recovery in China and a strong dollar.
McDonald's, which is also facing issues in China, fell 1.5% to US$100.35.
Adobe fell 3.11% to US$82.50, after lowering its 2016 profit forecast due to a strong dollar.
Freeport-McMoRan rose 3.13% to US$12.20, extending gains from Monday when the copper and gold miner said it is considering exiting the oil and gas business.
Monsanto and Constellation Brands are expected to report results before the bell.
A Fed report is expected to show U.S. consumer credit increased US$19 billion in August, below the US$19.10 billion rise in July. The data is due at 3:00 p.m. ET (1900 GMT).
