U.S. stock index futures pointed to a higher open on Wall Street on Wednesday, with futures for the S&P 500 up 0.3 percent, Dow Jones futures up 0.25 percent and Nasdaq 100 futures up 0.35 percent.
Oil held steady above $74, buoyed by industry data showing a sharp drawdown in U.S. crude stocks and an unexpected fall in gasoline supply, but the firm dollar limited gains. The greenback remained broadly supported after touching two-month peaks against the yen in holiday-thinned trade, underpinned by firm U.S. housing data and higher U.S. bond yields.
Micron Technology Inc
Research in Motion Ltd
Red Hat Inc's
Corporate uniform maker Cintas Corp
Finish Line Inc
European stocks were up 0.4 percent in morning trade, trading at 14-month high, led by banks and energy shares.
On the macro front, data on tap for Wednesday includes personal spending and income for November, as well as new home sales and the final reading of the University of Michigan's December consumer confidence.
The S&P 500 logged another 14-month high on Tuesday as stocks rallied on a surge in existing home sales, which indicated more stabilization in housing and boosted optimism about the economic recovery.
The Dow Jones industrial average <.DJI> rose 50.79 points, or 0.49 percent, to end at 10,464.93. The Standard & Poor's 500 Index <.SPX> added 3.97 points, or 0.36 percent, to 1,118.02. The Nasdaq Composite Index <.IXIC> gained 15.01 points, or 0.67 percent, to close at 2,252.67.
So far this year, the S&P 500 index has gained 23.8 percent, on track to record its best annual performance since 2003.
(Reporting by Blaise Robinson; Editing by Hans Peters)