U.S. stock futures leaned higher Wednesday after the prior day’s rally, as markets awaited news on a Greece rescue plan and testimony from Federal Reserve Chairman Ben Bernanke.
S&P 500 futures rose 3.8 points to 1,070.00 and Nasdaq 100 futures added 6 points to 1,758.00. Futures on the Dow Jones Industrial Average climbed 34 points.
U.S. stocks climbed Tuesday as indications that Germany would lead a rescue of debt-stricken Greece assuaged investors across the globe. The Dow Jones Industrial Average rose 150 points, or 1.5%, and other leading indexes rose by more than 1% as well.
Bank of America refinance mortgage rates have been very low for much of 2010 and they continue to drop. Bank of America home loans are at 4.8% for the 30 year fixed-rate mortgage. Earlier in the month we saw Bank of America mortgage rates as low as 4.73% on the 30 year fixed. Bank of America Corp. (NYSE:BAC, $14.47, -$0.01, -0.07%) rose 0.35 percent to $14.52 on Wednesday morning pre-market trading session, while on Tuesday, shares of Bank of America fell 0.07 percent, closed on $14.47 and BofA dropped 13.77 percent in the past one month trading.
Goldman Sachs reinstated coverage on Citigroup (C) with a Neutral rating and $3.50 price target, saying the company is long on capital and liquidity but short on earnings. Citigroup Inc. (NYSE:C, $3.18, +$0.03, 0.95%) dropped 0.31 percent to $3.17 on Wednesday morning pre-market trading session, while on Tuesday, Citigroup shares jumped 0.95 percent, closed on $3.18.
Walt Disney Co.’s (DIS) fiscal first-quarter earnings were about flat with those of the year-earlier period, the company said after markets closed on Tuesday, as gains by its television networks and film and TV studios were offset by declines at its theme-park and consumer units. The Walt Disney Company (NYSE:DIS, $29.84, +$0.36, 1.22%) fell 2.92 percent to $28.97 on Wednesday morning pre-market trading session, while on Tuesday, shares of Walt Disney rose 1.22 percent, closed on $29.84.
Chinese search engine Baidu.com (BIDU) eported stronger-than-forecast earnings on a 40% jump in revenue. Baidu, Inc. (NASDAQ:BIDU, $435.01, -$8.22, -1.85%) jumped 8.57 percent to $472.30 on Wednesday morning pre-market trading session, while on Tuesday, Baidu shares dropped 1.85 percent, closed on $435.01.
ArcelorMittal (MT), the world’s top steelmaker, said its markets would improve only slowly with higher shipments but lower prices in early 2010, and its profit forecast fell short of market expectations. ArcelorMittal (NYSE:MT, $39.46, +$1.86, 4.95%) fell 4.94 percent to $37.51 on Wednesday morning pre-market trading session, while on Tuesday, shares of ArcelorMittal rose 4.95 percent, closed on $39.46.
Wyndham Worldwide Corp (WYN) posted better-than-expected quarterly profit on Wednesday and said it was tripling its quarterly dividend. The company reported net income of $73 million, or 40 cents per share. A year earlier, it posted a net loss of $1.36 billion, or $7.63 per share, hit by charges linked to its vacation ownership program. Wyndham Worldwide Corp. (NYSE:WYN, $21.22, +$0.55, 2.66%) jumped 3.68 percent to $22.00 on Wednesday morning pre-market trading session, even on Tuesday, Wyndham Worldwide shares were up 2.66 percent, closed on $21.22.
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