U.S. stock index futures signaled a higher open on Wednesday — despite negative trade in both Europe and Asia — after optimistic remarks from outgoingFederal Reserve Chairman Ben Bernanke.
(Read more: European shares lower ahead of Fed’s ‘main event’)
Speaking in Washington on Tuesday, Bernanke said the central bank would maintain its easy monetary policy for as long as needed, and would only begin to reduce bond-buying once convinced that labor market improvements would continue.
Following this, investors await on Wednesday the release of minutes from the Federal Open Market Committee (FOMC)’s meeting in October.
“While Janet Yellen’s confirmation hearing at the Senate banking committee last week gave few signals about the likely path for near-term policy, the minutes will be watched closely for any clues as to when the Fed is looking to start tapering,” Emily Nicol, an economist at Daiwa Capital, said in a morning note.
(Read more: If Fed minutes reveal taper talk, watch yields)
After mixed earnings on Tuesday, retail stocks will remain in focus on Wednesday with the release of third quarter numbers from JC Penney, Lowe’s and J.M. Smucker. Staples, ADT and Deere will also report before Wall Street opens.
Other stocks worth watching on Wednesday include JPMorgan Chase, which rose on Tuesday after reaching a record $13 billion settlement with federal and state authorities to resolve claims over its sales of mortgage-backed securities during the housing crisis.
—By CNBC’s Katy Barnato
