Stock futures edge higher in quiet holiday trading


(Reuters) – U.S. stock futures edged higher on Wednesday, tracking global equities, which were buoyed by a surge in commodity prices.

Prices of copper, a metal widely used in power and construction, leapt to three-and-a-half-year highs after latest data from China showed a jump in imports of the metal, boosting expectations of stronger demand from the top consumer.

U.S. crude CLC1 was trading slightly below $60 per barrel, a level it had last crossed in late-2015, after news of an explosion on a Libyan crude pipeline and voluntary OPEC-led supply cuts.

Trading volumes are expected to remain muted in the holiday-shortened week.

Reports on a consumer confidence index for December and pending home sales for November are expected at 10:00 a.m. ET (1500 GMT).

At 6:50 a.m. ET, Dow e-minis 1YMc1 were up 4 points, or 0.02 percent, with 16,833 contracts changing hands.

SP 500 e-minis ESc1 were up 2.5 points, or 0.09 percent, with 60,358 contracts traded.

Nasdaq 100 e-minis NQc1 were up 4.75 points, or 0.07 percent, on volume of 12,954 contracts.

Wall Street’s main gauges fell on Tuesday as Apple and shares of its parts suppliers weakened on a report of soft iPhone X demand, pulling down the best-performing technology sector.

Apple (AAPL.O) shares were up marginally in premarket trading.

Shares of wireless-charging technology developer Energous Corp (WATT.O) soared 86 percent after it got certification for its wireless charging transmitter.

Reporting by Sruthi Shankar in Bengaluru; Editing by Anil D’Silva

Facebook Comments

Comments are closed.