Investing.com - U.S. futures pointed to a higher open Wednesday, as tech stocks recovered from a steep slump and investors looked ahead to economic data ahead of the Thanksgiving holiday.
The S&P 500 futures rose 16 points or 0.61% to 2,656.0 as of 6:38 AM ET (11:38 GMT) while Dow futures were up 125 points, or 0.51%, to 24,562.0. Meanwhile tech heavy Nasdaq 100 futures increased 57 points, or 0.87%, to 6,589.50.
Wall Street closed in the red for the second consecutive day on Tuesday, wiping out yearly gains amid worry over retail earnings and technology production levels.
Foot Locker (NYSE:FL) was among the top gainers in premarket trading, surging 13% after its earnings came in better than expected. Apple (NASDAQ:AAPL) inched up 0.69%, while Netflix (NASDAQ:NFLX) jumped 1.36% and Facebook (NASDAQ:FB) bounced back 0.81%. Tesla (NASDAQ:TSLA) increased 1.07% and Paypal gained 0.95%.
Elsewhere, Lowe’s (NYSE:LOW) dipped 1.16% while Carnival (NYSE:CCL) Corp fell 0.63% and Alliant Energy was down 0.86%.
A flurry of economic data is expected later in the session. Durable goods orders comes out at 8:30 AM ET (13:30 GMT), while existing home sales data is out at 10:00 AM ET (15:00 GMT). Initial jobless claims data is also released a day ahead of its normal release due to the Thanksgiving holiday, along with a revised Michigan consumer sentiment for November.
In commodities markets, gold futures rose 0.33% to $1,225.20 a troy ounce while crude oil futures increased 1.74% to $54.36 a barrel. The U.S. dollar index which measures the greenback against a basket of six major currencies, fell 0.26% to 96.465.