Stocks: 5 things to know before the open

July 2, 2014: 7:16 AM ET
sp 500 futures 710
Click on chart to track premarkets
LONDON (CNNMoney)

The Dow is sooo close to 17,000 after hitting a new record high Tuesday. Will it get there today?

Here are the five things you need to know before the opening bell rings in New York.

1. More records in sight: U.S. stock futures were slightly higher Wednesday, leaving investors guessing whether the Dow Jones Industrial Average and S&P 500 could move on to new all-time highs.

"The bull lives on," said Peter Cardillo, chief market economist at Rockwell Global Capital. Stocks were being propelled by a sense of economic confidence, especially regarding the job market, he said.

U.S. stocks were on fire Tuesday. Both the Dow and S&P 500 broke records while the Nasdaq closed 1.1% higher. This was the Dow's 12th record close this year.

The CNNMoney Fear & Greed index is currently pointing to 'extreme greed'.

Related: The 5 top performing stocks from the first half of 2014

2. Economic data to watch: There's a handful of economic data releases due Wednesday morning. The most influential could be the ADP employment report for June due at 8:15 a.m. ET, providing a preview to Thursday's jobs figures.

Then at 10 a.m., the U.S. government will report the monthly change in factory orders for May.

3. Yellen speaks, markets listen: The head of the Federal Reserve, Janet Yellen, will be speaking at the International Monetary Fund at 11 a.m. Investors will be watching for clues as to how long the Fed will wait to raise interest rates once its bond-buying program ends later this year.

Related: Autopsy of America: photos of dead malls

4. Potential stock movers -- JPMorgan, AbbVie: Investors will be watching JPMorgan (JPM) shares after CEO Jamie Dimon announced he was diagnosed with a curable throat cancer. He will continue working as he undergoes treatment.

Shares in the pharmaceutical firm AbbVie (ABBV) were volatile in premarket trading. The company has been looking to take over rival Shire (SHPG) in the U.K. but has faced continued resistance from Shire's management.

Related: The 5 worst performing stocks from the first half of 2014

5. International markets overview: European markets were mostly higher in early trading.

All the major Asian markets ended with gains, taking their cue from Wall Street's record-setting run Tuesday.

Join the Conversation
Markets
Sponsored by
Index Last Change % Change
Dow 17,098.45 18.88 0.11%
Nasdaq 4,580.27 22.58 0.50%
S&P 500 2,003.37 6.63 0.33%
Treasuries 2.34 0.01 0.39%
Data as of 5:00pm ET
Company Price Change % Change
Bank of America Corp... 16.09 0.08 0.50%
Apple Inc 102.50 0.25 0.24%
Intel Corp 34.92 0.27 0.78%
Facebook Inc 74.82 0.96 1.31%
General Electric Co 25.98 -0.03 -0.12%
Data as of Aug 29
Overnight Avg Rate Latest Change Last Week
30 yr fixed4.07%4.28%
15 yr fixed3.18%3.26%
5/1 ARM3.36%3.43%
30 yr refi4.05%4.21%
15 yr refi3.17%3.18%
View rates in your area
 
Find personalized rates:
Rate data provided
by Bankrate.com