Stocks: Italy worries remain despite rally

Written By limadu on Rabu, 27 Februari 2013 | 17.42

U.S. stocks finished higher Tuesday.

NEW YORK (CNNMoney)

The heavily-indebted eurozone country will test investor sentiment Wednesday as it looks to sell 3-4 billion euros worth of 10-year bonds. Market strategists say yields may approach the 5% level, though that would still be well below last year's peak of 6.6% when the eurozone debt crisis was raging.

U.S. stock futures were up slightly ahead of the opening bell on Wednesday, and European stock markets edged higher before the bond sale.

Back in the U.S., the Census Bureau will release data on durable goods orders at 8:30 a.m. ET, and Federal Reserve chairman Ben Bernanke will be back on Capital Hill to give testimony before the House Financial Services Committee.

Firms including retailer TJX (TJX, Fortune 500) are scheduled to report quarterly results in the morning, while Groupon (GRPN) and J.C. Penney (JCP, Fortune 500) are up after the bell.

Fear & Greed Index

U.S. stocks closed higher Tuesday after Bernanke gave investors reason to believe that the central bank would continue to do its part to help the economy during testimony before the Senate Banking Committee.

Papa John's (PZZA) shares fell in after-hours trading Tuesday after the pizza chain said it had to restate earnings dating back to 2009 because of an accounting error related to a joint venture agreement.

First Solar (FSLR) shares sank sharply after-hours as the renewable energy firm beat expectations on earnings but missed on sales in reporting its quarterly results.

Asian markets ended mixed. Japan's Nikkei lost 1.3%, while the Shanghai Composite added 0.9% and Hong Kong's Hang Seng increased 0.2%. To top of page

First Published: February 27, 2013: 3:57 AM ET


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