Stock futures point higher but a slew of economic news could make or break the session.
Stocks were poised to start higher Wednesday but investors have a lot of economic news to digest ahead of the opening bell, and a day before their Thanksgiving feasts.
S&P and Nasdaq futures posted modest gains in before-hours trading.
Stocks ended little changed Tuesday after Monday's big rally, as investors played it cautious following the morning's upbeat GDP report and ahead of Wednesday's economic news.
On the calendar: durable goods orders and personal income and spending, all for October, a revised Michigan sentiment reading for November, new home sales for October, and the Fed's "Beige Book" report on regional economic conditions.
In addition, weekly jobless claims are due. That number usually comes out on Thursday, when the markets will be closed for Thanksgiving.
Overseas, Asian stocks ended higher, with Tokyo's Nikkei average up about 1.8 percent, while stocks started flat in Europe.
Treasury prices were little changed, leaving the yield on the 10-year note at 4.18 percent. The bond market closes early before Thursday's holiday.
The dollar fell against the euro and edged higher against the Japanese yen. Last week the U.S. currency hit a record low against the euro and a three-year trough versus the yen.
Among stocks that could be active in what might be an otherwise quiet pre-holiday session Wednesday:
H&R Block (HRB: Research, Estimates), which jumped 3.2 percent in after-hours trading Tuesday after the nation's biggest tax preparer posted its first-ever second-quarter profit.
Tech Data Corp. (TECD: Research, Estimates) reported lower profits but its shares rose 4.2 percent due to a 15 percent increase in revenue.
Praecis Pharmaceuticals Inc. (PRCS: Research, Estimates) stock rallied on news that it won FDA approval for Plenaxis, a drug used to treat advanced prostate cancer.
But Genentech Inc. (DNA: Research, Estimates) shares dipped after its experimental Avastin cancer drug fell short of its primary goal of prolonging survival in patients with colorectal cancer following a mid-stage trial.
Earnings are due from food processor Hormel (HRL: Research, Estimates), forecast to earn 49 cents a share for the quarter, and retailer Ultimate Electronics (ULTE: Research, Estimates), which analysts predict lost 39 cents a share for the quarter, according to Briefing.com.
Stocks were poised to start higher Wednesday but investors have a lot of economic news to digest ahead of the opening bell, and a day before their Thanksgiving feasts.
S&P and Nasdaq futures posted modest gains in before-hours trading.
Stocks ended little changed Tuesday after Monday's big rally, as investors played it cautious following the morning's upbeat GDP report and ahead of Wednesday's economic news.
On the calendar: durable goods orders and personal income and spending, all for October, a revised Michigan sentiment reading for November, new home sales for October, and the Fed's "Beige Book" report on regional economic conditions.
In addition, weekly jobless claims are due. That number usually comes out on Thursday, when the markets will be closed for Thanksgiving.
Overseas, Asian stocks ended higher, with Tokyo's Nikkei average up about 1.8 percent, while stocks started flat in Europe.
Treasury prices were little changed, leaving the yield on the 10-year note at 4.18 percent. The bond market closes early before Thursday's holiday.
The dollar fell against the euro and edged higher against the Japanese yen. Last week the U.S. currency hit a record low against the euro and a three-year trough versus the yen.
Among stocks that could be active in what might be an otherwise quiet pre-holiday session Wednesday:
H&R Block (HRB: Research, Estimates), which jumped 3.2 percent in after-hours trading Tuesday after the nation's biggest tax preparer posted its first-ever second-quarter profit.
Tech Data Corp. (TECD: Research, Estimates) reported lower profits but its shares rose 4.2 percent due to a 15 percent increase in revenue.
Praecis Pharmaceuticals Inc. (PRCS: Research, Estimates) stock rallied on news that it won FDA approval for Plenaxis, a drug used to treat advanced prostate cancer.
But Genentech Inc. (DNA: Research, Estimates) shares dipped after its experimental Avastin cancer drug fell short of its primary goal of prolonging survival in patients with colorectal cancer following a mid-stage trial.
Earnings are due from food processor Hormel (HRL: Research, Estimates), forecast to earn 49 cents a share for the quarter, and retailer Ultimate Electronics (ULTE: Research, Estimates), which analysts predict lost 39 cents a share for the quarter, according to Briefing.com.
3287.99
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