By Carla Mozee, MarketWatch
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) rose 20
points, or 0.1%, to 16,983, while those for the S&P 500 index
(SPZ4) picked up 2.7 points, or 0.2%, to 1,974.90. Futures for the
Nasdaq 100 index (NDZ4) 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) lost 0.6% Dow industrials (DJI) gave up 0.7%, and
the Nasdaq Composite (RIXF) 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.
Crédit Agricole expects August new home sales to have risen to a
rate of 424,000 in the wake of strengthening confidence among home
builders. The NAHB Housing Market Index in August held to a
"healthy reading above 50," and in particular, "sentiment improved
in the Northeast and Midwest regions where sales have fallen over
the past two months," said Crédit Agricole economist Philippe
Vilasboas in a note.
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) exchange-traded
fund, The Wall Street Journal reported late Tuesday.
Shares of Citizens Financial Group (CFG) 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) shares surged in late trade on
earnings.
Shares of Atossa Genetics (ATOS) 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) could be in focus on news it's moving to take
full ownership of its Japanese operations for more than $900
million.
Lipocine (LPCN) 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 shed 0.2%. Meanwhile, the
dollar fell against the yen (USDJPY) after Japan's prime minister
said he's cautious about the yen's recent weakness.
European stocks slipped following their worst session since July
on Tuesday. Gold futures (GCZ4) edged up and oil futures (CLX4)
were little changed ahead of weekly supply data from the U.S.
Energy Information Administration.
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