By Barbara Kollmeyer, MarketWatch
MADRID (MarketWatch) — U.S. stock futures rose on Wednesday, with investors emboldened by a strong finish for the Dow Industrials in the prior session, as they awaited another string of earnings reports.
Futures for the Dow Jones Industrial Average (DJH11 11,993, +20.00, +0.17%) rose 15 points to 11,988, while those for the S&P 500 index (SPH11 1,304, +1.70, +0.13%) gained 1.1 points to 1,303.80.
Futures for the Nasdaq 100 index (NDH11 2,321, -1.25, -0.05%) were nearly unchanged at 2,323.20.
The Dow (DJIA 12,040, +148.23, +1.25%) rose 148.23 points, or 1.3%, to 12,040.16 Tuesday, posting its first close above the key 12,000 level since June 19, 2008, buoyed by strong manufacturing data and upbeat earnings reports.
“Worrying unemployment and housing data continue to weigh on the U.S. recovery, but this move above 12,000 could provide a boost to investor psychology in the U.S. and keep the bulls on the front foot,” said Ben Critchley, sales trader at IG Index, in a note.
On the calendar for Wednesday is the ADP employment report for the private sector, due at 8:15 a.m. Eastern time.
Shares of Electronic Arts Inc. (ERTS 15.62, +0.03, +0.19%) rose 11% in premarket trade after the video game publisher said late Tuesday that its third-quarter fiscal loss widened as sales fell, but announced a better-than-expected forecast for the current quarter and a share buyback plan worth $600 million.
Among companies expected to report earnings ahead of the opening bell are Mattel Inc. (MAT 24.15, +0.47, +1.98%) , Marathon Oil Corp. (MRO 46.60, +0.90, +1.97%) , Allergan Inc. (AGN 71.32, +0.71, +1.01%) and Hershey Co. (HSY 47.14, +0.45, +0.96%) (HSY 47.14, +0.45, +0.96%) .
After the market closes, News Corp. (NWS 17.09, +0.51, +3.08%) , which owns the publisher of this report, and Visa Inc. (V 70.70, +0.85, +1.22%) are due to report.
In Europe, stocks rose, with the biggest gains seen in London where miners gained. Shares of Spain’s second-largest bank BBVA SA (BBVA 12.95, +0.68, +5.54%) (ES:BBVA 9.27, -0.04, -0.45%) fell 0.8% in the wake of fourth-quarter results.
Shares of Roche Holding AG (CH:ROG 141.30, -3.20, -2.21%) fell 1.9% in Swiss trading after the drugmaker said restructuring charges and slowing U.S. and European sales hit 2010 earnings.
Crude-oil futures rose 16 cents to $90.93 a barrel in electronic trading on Globex. Investors kept an eye on the situation in Egypt, where President Hosni Mubarak said he would not run in upcoming presidential elections after his term expires later this year.
Gold futures for April delivery fell $2.70 to $1,377.60 an ounce.
March copper futures were little changed at $4.54 a pound, after closing at their highest level ever on the Comex unit of the New York Mercantile Exchange on Tuesday.
