January 18, 2012
Stock index futures signaled slight gains for Wall Street at the open as investors looked ahead to earnings from Goldman Sachs but kept a close eye on developments in Europe.
Shares in Europe were lower in Wednesday morning trade, pressured by concerns over Greek debt restructuring talks which broke down last week.
International creditors will meet the Greek government later on Wednesday to resume the talks.
An upcoming sale of 6 and 11-month bills by Portugal, its first auction since Standard & Poor’s rating agency downgraded the country to speculative grade last Friday, also kept gains in check.
Back in the U.S., Goldman Sachs reports fourth-quarter results at 8 am New York time.
Analysts polled by Thomson Reuters expect the group to have earned $1.27 per share in the quarter on revenue of $6.54 billion.
Among economic data on tap, the Mortgage Bankers Association releases weekly mortgage application numbers at 7 am, while December producer prices are out at 8.30 am. December industrial production figures are released at 9.15 am.
Yahoo is among companies in focus on Wednesday after co-founder Jerry Yang quit the company to appease shareholders.
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