(Reuters) – U.S. stock futures edged higher on Wednesday, tracking global equities, which were buoyed by a surge in commodity prices.
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Prices of copper, a metal widely used in power and construction, leapt to three-and-a-half-year highs after latest data from China showed a jump in imports of the metal, boosting expectations of stronger demand from the top consumer.
U.S. crude was trading slightly below $60 per barrel, a level it had last crossed in late-2015, after news of an explosion on a Libyan crude pipeline and voluntary OPEC-led supply cuts.
Trading volumes are expected to remain muted in the holiday-shortened week.
Reports on a consumer confidence index for December and pending home sales for November are expected at 10:00 a.m. ET (1500 GMT).
At 6:50 a.m. ET, Dow e-minis were up 4 points, or 0.02 percent, with 16,833 contracts changing hands.
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S&P 500 e-minis were up 2.5 points, or 0.09 percent, with 60,358 contracts traded.
Nasdaq 100 e-minis were up 4.75 points, or 0.07 percent, on volume of 12,954 contracts.
Wall Street’s main gauges fell on Tuesday as Apple and shares of its parts suppliers weakened on a report of soft iPhone X demand, pulling down the best-performing technology sector.
Apple (AAPL) shares were up marginally in premarket trading.
Shares of wireless-charging technology developer Energous Corp (WATT) soared 86 percent after it got certification for its wireless charging transmitter.
(Reporting by Sruthi Shankar in Bengaluru; Editing by Anil D’Silva)
