Stock Futures Rise Ahead of Series of Economic Data
U.S. stock index futures are rising ahead of a series of economic data that will be released shortly. On Tuesday, equity market was dragged lower by a combination of global political and economic factors, which largely overshadowed an upward revision in the third-quarter GDP by the U.S. Commerce Department. Investors are expected to remain cautious today as concerns in Europe over the debt crisis continue. The U.S. dollar is continuing to make steady gains against euro on the back of debt crisis in Europe and investors’ flight to safety.
Stock index futures are trading higher today, with the Dow Jones Industrial Average futures climbing 11 points, the S&P 500 futures climbing 2 points and the Nasdaq 100 futures climbing 1 point.
Gold prices are steady, despite a rise in the U.S. dollar. Gold for immediate delivery was steady at $1,375.40 an ounce, little changed from Tuesday’s $1,376.20 an ounce.
Ahead of the bell, shares of Oracle Corporation (NASDAQ: ORCL) are trading higher after a jury ruled in favor of the company in copyright infringement case against SAP (ADR) (NYSE: SAP). SAP has been slapped with a fine of $1.3 billion for illegally downloading Oracle’s software. Shares of Oracle are up 1.69% to $27.65 in pre-market trading today. Meanwhile, shares of SAP are down 2.07% to $47.68 in pre-market trading today.
