US futures up as Ukraine tensions ease

New York - US stock index futures rose on Wednesday as geopolitical tensions eased after Western powers agreed to hold off on more damaging economic sanctions against Russia unless it went beyond its seizure of Crimea.

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

Investors have been concerned about the economic fallout of any escalation in the biggest East-West conflict since the Cold War, though few US companies have direct exposure to the region.

Moscow said it was keen to maintain contact with G8 partners.

The social networking giant said late Tuesday it would buy Oculus VR Inc, a maker of virtual-reality glasses for gaming, for $2 billion.

That follows Facebook's $19 billion deal to buy WhatsApp in February.

Dow Jones industrial average futures added 22 points and Nasdaq 100 futures rose 9.25 points.

European Central Bank governing council member Jens Weidmann said Tuesday the ECB was not ruling out buying loans and other assets from banks to support the euro zone.

King priced its IPO at $22.50 a share, and the stock is set to debut on the New York Stock Exchange on Wednesday.

The March reading on the US services sector from financial data firm Markit is on tap for release after the market opens. - Reuters