Futures on major U.S. stock indices remained range-bound on Wednesday as investors await for the economic data including key US GDP figures from the government.
Futures on the S&P 500 are up 0.01 percent, futures on the Dow Jones Industrial Average are up 0.01 percent and Nasdaq100 futures are down 0.09 percent.
Investors are eagerly waiting for the GDP numbers as well as existing home sales data to understand the current situation in the world’s largest economy.
The Commerce Department is due to report final GDP estimate for the third quarter of 2010 before the market opens. Economists forecast the U.S. GDP growth in the third quarter to be revised up to 2.70 percent annualized rate from the 2.50 percent rate projected last month. In the second quarter, the economy grew at a 1.7 percent annual rate.
The National Association of Realtors (NAR) is due to report the sales of previously occupied homes after markets open. Economists are forecasting that existing home sales in November may rise to 4.75 million against 4.43 million in October.
On the corporate front, shares of Nike, Red Hat and Hovnanian Enterprises will be in focus after reporting quarterly earnings late Tuesday.
On Tuesday, US stocks rose moderately, boosted by some M&A activity and an easing of hostilities in Korea, with the Dow Jones index reaching a 28-month high and the Nasdaq at a three-year high, albeit in light pre-holiday trading.
The euro advanced 0.36 percent to 1.3147 against the dollar and the yen gained 0.29 percent against the greenback.
Crude oil futures advanced 0.40 percent to $90.18/barrel ahead of inventory data and gold futures rose 0.06 percent.
European stock markets are currently trading higher with FTSE 100 up by 15.37 points, DAX30 up by 2.97 points and CAC 40 up by 0.20 points.