Stocks futures are pointing to a modestly higher open Wednesday, as a solid bond auction in Portugal, one of the eurozone's key areas of concern, has helped to lift sentiment as the markets await the Federal Reserve's Beige Book report. The major index futures are all in positive territory, with the Dow futures up by 42 points.
Earlier this morning, the Portuguese government auctioned 661 million euros, or roughly $840 million worth of three-year notes and 378 million euros or roughly $480 million worth of 10-year bonds. The sales drew solid demand, helping to alleviate some fears regarding western Europe's sizable debt problems.
On the U.S. economic front, the Federal Reserve will release its Beige Book report at 2.00 p.m. ET, with traders likely to carefully examine the language describing economic conditions in the 12 Federal Reserve districts.
At 3.00 p.m. ET, the Federal Reserve will release a separate report on consumer credit in July. Economists expect that consumer credit declined by $5.25 billion during the month following a $1.3 billion contraction in the previous month.
In corporate news, British telecom giant Vodafone Plc (VOD) confirmed that it has agreed to sell its entire 3.2 percent interest in China Mobile for 4.3 billion pounds, or $6.6 billion. Vodafone will continue its commercial and technology cooperation with China Mobile.
BP Plc (BP) also returns to the spotlight today, as the firm has released its internal report on the Gulf of Mexico oil spill.
In earnings news, apparel maker Phillips-Van Heusen Corp. (PVH) reported a second quarter net loss compared to a profit last year, mainly due to the acquisition and integration costs related to Tommy Hilfiger. On an adjusted basis, the company's profit for the quarter soared 65 percent and came in well ahead of analysts' expectations.
Stocks fell by sharp margins to open the Labor Day-shortened week on Tuesday, as profit taking following last week's gains drove the major averages down off of their best closing levels in three weeks. Nonetheless, the pullback came on low volume, with many traders staying away from their desks following the three-day weekend.
The Dow fell by 107 points to end at 10,341, the Nasdaq declined by 25 points to 2,209 and the S&P 500 lost 13 points to close at 1,092.
Overseas, stock markets in the Asia-Pacific region ended mostly lower on Wednesday. Japan's benchmark Nikkei 225 Index sank by 2.2 percent, while Hong Kong's Hang Seng Index slid by 1.5 percent.
Meanwhile, the major European markets are up by varied margins. The French CAC 40 Index is up by 0.6 percent, while the U.K.'s FTSE 100 Index and the German DAX Index are up by 0.3 percent and 0.2 percent, respectively.
Among currencies, the U.S. dollar is nearly flat against the euro, trading at $1.2700, and is down against the pound at $1.5451. Versus the yen, the dollar has slipped to 83.85 yen.
In commodities trading, crude oil futures are little changed at $74.04 a barrel, while gold futures are up by $3.00 at $1,260.90 an ounce.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.