US futures point to higher open

New York - US stock index futures pointed to a higher open on Wednesday after the first read on second-quarter economic growth came in much stronger than expected, overshadowing a weak report on the labour market.

The US bourse is set to open higher as European leaders get ready to meet. Credit: REUTERS

The social networking company also gave a revenue outlook that was above forecasts.

Facebook, which also posted strong results this quarter and is up almost 35 percent this year, rose 0.9 percent to $74.37 before the bell.

Dow Jones industrial average e-mini futures gained 66 points and Nasdaq 100 e-mini futures rose 23 points.

That level had served as support of late, and staying decisively below it would be a sign that near-term momentum is weakening.

The central bank is widely expected to trim its monthly asset purchases to $25 billion from $35 billion, which would leave it on course to shutter the program this fall.

Investors are looking for any hint on whether officials are growing more anxious to start to reverse their monetary accommodation. - Reuters