S&P futures rose 1.30 to 1,208 while Nasdaq futures climbed 5 to 1,522 and Dow futures added 18 to 10,447.
Stocks posted their best gains in six weeks on Tuesday as crude-oil prices pulled back from their record highs above $60.
Ahead of the latest inventory data, set for release around 10:30 (ET), crude futures were down 59 cents to $57.61 a barrel.
Most analysts expect the Energy Department report to show declines in crude inventories along with a climb in distillates. But estimates for gasoline varied. See Futures Movers.
Markets saw little impact from the Commerce Department's report that first-quarter U.S. gross domestic product increased at a 3.8% annual rate, matching the 3.8% rate in the fourth quarter. Last month, the government estimated first-quarter growth at 3.5% and economists were expecting a revision to 3.7%.
The 10-year Treasury gained modestly in the wake of the report. The note was last 5/32 higher at 101 13/32, yielding 3.95%. The note was unchanged ahead of the report.
The dollar maintained a slim gain against the euro and was firmer against the yen. The dollar was fetching 110.35 yen compared to 110.39 yen before the report. That's a gain of 0.5% from Tuesday. The euro stood at $1.2055 vs. $1.2052 before the data release, down 0.1% from Tuesday.
Technology was expected to pace Wall Street's gains Wednesday.
Oracle Corp. (ORCL: news, chart, profile) climbed 3% in pre-open trading after its fiscal fourth-quarter results topped analysts' estimates amid strong demand for its database products. See full story.
Motorola Inc. (MOT: news, chart, profile) , meanwhile, rose 1.9% to $18.70 in early trade after Morgan Stanley raised its rating on the shares to overweight citing handset share gains in China and Western Europe.
Dow industrials component American International Group Inc. (AIG: news, chart, profile) rose 3.2% in pre-open trade after it said first-quarter net income jumped 44% while revenue in the period rose 16%. Revenue was $27.11 billion, up from $23.38 billion a year ago. See full story.
In other earnings news, General Mills Inc. (GIS: news, chart, profile) posted fiscal fourth quarter earnings that jumped 65% but fell short of Wall Street's expectations due to soggy cereal sales and higher costs. Read more.
Stocks posted their best gains in six weeks on Tuesday as crude-oil prices pulled back from their record highs above $60.
Ahead of the latest inventory data, set for release around 10:30 (ET), crude futures were down 59 cents to $57.61 a barrel.
Most analysts expect the Energy Department report to show declines in crude inventories along with a climb in distillates. But estimates for gasoline varied. See Futures Movers.
Markets saw little impact from the Commerce Department's report that first-quarter U.S. gross domestic product increased at a 3.8% annual rate, matching the 3.8% rate in the fourth quarter. Last month, the government estimated first-quarter growth at 3.5% and economists were expecting a revision to 3.7%.
The 10-year Treasury gained modestly in the wake of the report. The note was last 5/32 higher at 101 13/32, yielding 3.95%. The note was unchanged ahead of the report.
The dollar maintained a slim gain against the euro and was firmer against the yen. The dollar was fetching 110.35 yen compared to 110.39 yen before the report. That's a gain of 0.5% from Tuesday. The euro stood at $1.2055 vs. $1.2052 before the data release, down 0.1% from Tuesday.
Technology was expected to pace Wall Street's gains Wednesday.
Oracle Corp. (ORCL: news, chart, profile) climbed 3% in pre-open trading after its fiscal fourth-quarter results topped analysts' estimates amid strong demand for its database products. See full story.
Motorola Inc. (MOT: news, chart, profile) , meanwhile, rose 1.9% to $18.70 in early trade after Morgan Stanley raised its rating on the shares to overweight citing handset share gains in China and Western Europe.
Dow industrials component American International Group Inc. (AIG: news, chart, profile) rose 3.2% in pre-open trade after it said first-quarter net income jumped 44% while revenue in the period rose 16%. Revenue was $27.11 billion, up from $23.38 billion a year ago. See full story.
In other earnings news, General Mills Inc. (GIS: news, chart, profile) posted fiscal fourth quarter earnings that jumped 65% but fell short of Wall Street's expectations due to soggy cereal sales and higher costs. Read more.
