By Steve Goldstein, MarketWatch LONDON (MarketWatch) -- U.S. stock futures were flat to higher Wednesday ahead of a report on employment and the Fed's assessment of the economy, as calm was restored to markets after the Dubai debt jitters. S&P 500 futures rose four-tenths of a point to 1,108.90 and Nasdaq 100 futures were steady at 1,792.00. Futures on the Dow Jones Industrial Average rose 4 points. U.S. stocks climbed on Tuesday as fears over Dubai continued to ebb, pushing the Dow Jones Industrial Average to its best finish since Oct. 2, 2008. The Nasdaq Composite rose 31 points and the S&P 500 climbed 13 points. The move to assets perceived as safer is reversing as well. The dollar rose 0.5% to 87.15 yen, and the euro climbed against the dollar. Yields on 10-year Treasury bonds rose 1 basis point to 3.30%. Gold futures stood out, with the December contract rising $11.40 to $1,211.40 an ounce. "As long as these drivers -- the softer U.S. dollar, lower interest rates, reduced risk aversion and benign equity markets, for instance, remain at play -- the upward trend in commodities should continue," said analysts from Commerzbank. The ADP employment report for November -- two days ahead of the government's -- is due at 8:15 a.m. Eastern. Also out on Wednesday, at 2 p.m., is the Fed's Beige Book of anecdotal evidence on the economy. The last report said there was stabilization or modest improvements in many sectors -- from depressed levels. "We do not expect much of a change to the last Beige Book as the Fed members have in recent speeches emphasized that the policy rate will remain low for an extended period," said analysts from Credit Suisse. Oil futures slipped in electronic trades after the American Petroleum Institute said late Tuesday U.S. crude inventories rose by 2.9 million barrels last week. The government's report on inventories is due at 10:30 a.m. Merck (MRK 36.90, +0.69, +1.91%) may attract attention after Roche (RHHB.Y 41.40, +0.48, +1.17%) said a diabetes drug under development works better than the American firm's Januvia. McDonald's (MCD 63.54, +0.29, +0.46%) late Tuesday said its chief operating officer, Ralph Alvarez, will retire due to health reasons. Two CEO candidates said Bank of America (BAC 15.90, +0.05, +0.32%) should consider breaking itself up, though the board has rejected that idea, according to a report in The Wall Street Journal. Asia stocks were generally stronger, with the Nikkei 225 up 0.4% and Kospi Composite climbing 1.4%. European stocks were a touch higher, with the Dow Jones Stoxx 600 up 0.2%.

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