Stock-index futures pointed to a slightly higher start for Wall Street Wednesday as investors offered a muted reaction to data showed China’s economic growth stabilized, leaving the focus to a continued stream of corporate results.
What are major indexes doing?
Futures for the Dow Jones Industrial Average YMM9, +0.16% rose 22 points, or 0.1%, to 26,469, while S&P 500 futures ESM9, +0.24% rose 5.35 points, or 0.2%, to 2,916.75. Nasdaq-100 NQM9, +0.36% were up 21.75 points at 7,701.25, a gain of 0.3%.
Stocks are looking to build on modest gains that saw the Dow DJIA, +0.26% end 67.89 points higher Tuesday at 26,452.66, up 0.3%, while the S&P 500 SPX, +0.05% fended off late-session selling to eke out a rise of 1.48 points, or 0.1%, to 2,907.06. The Nasdaq Composite COMP, +0.30% rose 24.21 points, or 0.3%, to finish at 8,000.23.
The S&P 500 ended just 0.8% away from its all-time closing high of 2,930.75 set on Sept. 20, while the Dow and Nasdaq each stand around 1.4% away from their record closes set last year.
What’s driving the market?
Chinese government data showed the country’s economy grew at a 6.4% annualized rate in the first quarter of 2019, maintaining the pace seen in the last quarter of 2018 as factory output picked up steam. The figure was slightly higher than many economists expected.
The data failed to provide much spark to European markets, but analysts said signs of stability could soothe investor worries about the world’s second-largest economy. Stock-market gains since the end of last year have been tied in part to expectations stimulus efforts by Chinese authorities and a potential deal to end the U.S.-China trade battle would limit the scope of