NEW YORK (CNN/Money) - Investors will determine Wednesday if there's any positive momentum left from the first trading session of the new quarter, with some wary ahead of key financial reports due at the end of the shortened work week.

At 7:30 a.m. ET, futures pointed to a slightly higher start for the major U.S. indexes.

For details of Tuesday's gains, click above

The Dow Jones industrial average began the second half of 2003 Tuesday with a solid 0.6 percent gain that put it back above 9,000. The blue-chip indicator hadn't closed above the benchmark since last Thursday. The Nasdaq composite index came up with a 1.1 percent advance (see chart for details of Tuesday's advance)

Investors may choose to be cautious ahead of Thursday's jobs report for June, and after a weaker-than-expected Institute of Supply Management manufacturing report for the month. Economists surveyed by Briefing.com expect no change in the number of non-farm jobs, but predict a rise in the unemployment rate to 6.2 percent from 6.1 percent in May.

The jobs report will be released Thursday because of Friday's Independence Day holiday. The markets will shut for the holiday after a half trading session Thursday and remain closed Friday.

Asian-Pacific stocks ended mostly higher Wednesday, with Tokyo's Nikkei index surging 3.4 percent to a nine-month high. European bourses rallied in early trading. (Check the latest on world markets)

Investors will keep an eye on Wal-Mart shares Wednesday after Merrill Lynch added the world's largest retailer to its "Focus List." Wal-Mart (WMT: Research, Estimates) also moved to expand its discrimination policy to cover gays and lesbians, according to a published report.

Shares of Microsoft (MSFT: Research, Estimates) rose 2.4 percent in before-hours trading after Merrill Lynch raised its rating on the world's largest software company to "buy" from "neutral," citing potential for earnings upside, a possible dividend increase, and the difference in Microsoft's valuation compared with its peers.

In addition, AT&T Wireless (AWE: Research, Estimates) said Wednesday it will cut 1,000 more jobs this year as it continues to reduce costs. A company spokesman said the firm did not have definite information yet on how many people would be affected, and what the reductions would cost.

Among U.S. stocks trading in Europe, General Motors (GM: Research, Estimates) was slightly lower. The world's No. 1 carmaker announced plans to expand production at its China joint venture facility in Shanghai.

Treasury prices fell in early trading, sending the 10-year note yield up to 3.59 percent from 3.56 percent late Tuesday. The dollar was lower against the yen, but up versus the euro.

Brent oil futures added 2 cents to $28.20 a barrel in London, where gold pulled lower.