NEW YORK (CNNMoney.com) -- U.S. stocks were set for a slightly higher open Wednesday as investors awaited the first major economic readings of the week.
Dow Jones industrial average, Nasdaq 100 and S&P 500 futures were slightly higher.
Futures measure current index values against perceived future performance and can offer an indication of how markets will open when trading begins in New York.
U.S. stocks have been lackluster this week as investors stepped back to mull what direction markets are headed. On Tuesday, the Dow, S&P 500 and Nasdaq nudged higher.
Derek Hoffman, chief executive and founder of Wall St. Cheat Sheet, said investors are showing confidence from signs of economic activity on Tuesday, such as Abbott Labs' (ABT, Fortune 500) acquisition of Facet Biotech and J. Crew's (JCG) report that revenue jumped 19% in the fourth quarter.
"People are spinning their wheels again and putting their capital to work," he said.
Economy: Investors will take in a reading on state unemployment data for January, which is due out at 10 a.m. ET.
A report on wholesale inventories is also due out then. A gain of 0.2% is expected for January, according to a consensus of economist forecasts from Briefing.com.
Later in the day, the Treasury budget will be released. Economists surveyed by Briefing.com expect a February deficit of $221 billion, compared to a deficit of $42.6 billion in January.
World markets: European markets were mildly higher in midday trading. Britain's FTSE 100, France's CAC 40 and Germany's DAX all posted slight gains.
Asian shares ended the session flat. The Hang Seng in Hong Kong finished the day unchanged and the Nikkei in Japan was barely changed.
Cash and bonds: The dollar slipped versus the euro but rose against the yen and the pound. The price of the 10-year note rose, pushing down the yield to 3.71%.
Oil and gold: The price of oil rose 40 cents per barrel to $81.89. The price of gold rose $5 per ounce to $1,127.30. 
| Overnight Avg Rate | Latest | Change | Last Week |
|---|---|---|---|
| 30 yr fixed | 3.89% | 3.88% | |
| 15 yr fixed | 3.21% | 3.21% | |
| 5/1 ARM | 2.87% | 2.88% | |
| 30 yr refi | 3.96% | 3.96% | |
| 15 yr refi | 3.30% | 3.29% |
Today's featured rates:
| Index | Last | Change | % Change |
|---|---|---|---|
| Dow | 12,862.84 | 61.61 | 0.48% |
| Nasdaq | 2,926.46 | 22.58 | 0.78% |
| S&P 500 | 1,350.15 | 7.51 | 0.56% |
| Treasuries | 1.98 | 0.01 | 0.51% |
| Company | Price | Change | % Change |
|---|---|---|---|
| Bank of America Corp... | 8.27 | 0.20 | 2.48% |
| Sprint Nextel Corp | 2.29 | 0.00 | 0.00% |
| Cisco Systems Inc | 19.98 | 0.09 | 0.43% |
| Ford Motor Co | 12.55 | 0.11 | 0.88% |
| Chesapeake Energy Co... | 22.56 | 0.43 | 1.94% |
|
Apple's stock surpasses $500 for the first time, just six months after the company first passed $400. More |
With still elevated budget deficits, Obama will not keep his 2009 promise to half the deficit by the end of his first term. More |
Apple's stock surpasses $500 for the first time, just six months after the company first passed $400. More |
Small businesses, eager to control quality and costs, are increasingly shifting orders away from Chinese factories to American manufacturers, instead. More |
This year, taxpayers can claim up to $13,360 for each child they've adopted on their 2011 tax returns -- a major windfall for some unsuspecting parents. Just be prepared for long waits and the possibility of a tax audit. More |
.
