Stocks: Set for a third day of gains?

Written By limadu on Kamis, 10 April 2014 | 17.42

S&P futures 2014 04 10

Click chart for in-depth premarket data.

NEW YORK (CNNMoney)

Investors are feeling upbeat after minutes from the latest Federal Reserve meeting seemed to indicate that interest rates will remain low for some time.

U.S. stock futures were edging slightly higher.

On Wednesday, the Dow Jones industrial average and S&P 500 jumped by over 1% and the Nasdaq gained 1.7%, boosted by the latest Fed minutes.

The minutes showed that Fed members were broadly united in ditching the 6.5% unemployment target as a gauge for timing interest rate increases. Investors assume this means low rates will stick around for longer than expected.

Looking to the day ahead, markets are awaiting the weekly jobless claims report which will come out at 8:30 a.m. ET. The Treasury will publish its monthly budget report at 2 p.m. ET.

In corporate news, Pier 1 Imports (PIR) and Rite Aid (RAD, Fortune 500) will report earnings before the bell.

Related: Fear & Greed Index

Shares in Bed Bath & Beyond (BBBY, Fortune 500) fell in after-hours trading after the company reported quarterly revenue that missed Wall Street's expectations.

Shares of La Quintar (LQ)ose in extended trading. The hotel chain began trading Wednesday.

Related: CNNMoney's Tech30

All major European markets were moving higher in morning trading, basking in the afterglow of Wednesday's Fed-inspired rally on Wall Street. London's FTSE 100 was leading with a 0.7% gain.

Investors across Europe are watching as Greece returns to the bond market for the first time in more than four years. The country is looking to raise money by issuing five-year bonds, and demand is reported to be strong.

Greece was shut out of international markets in 2010 when its economy collapsed, leading to two rescues by the European Union and International Monetary Fund.

Meanwhile, in Asia, nearly all the major stock markets ended with gains. The Hang Seng in Hong Kong shot up by 1.5% and the Shanghai Composite added 1.4%. To top of page

First Published: April 10, 2014: 4:47 AM ET


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