February 12, 2014- Stocks Look to Edge Higher with Caution After Recent Run

Early indications suggest that Wall Street stocks may open higher, although the momentum seems to be ebbing. The major U.S. index futures are pointing to a higher opening on Wednesday. Strong Chinese trade data and positive lead from Wall Street overnight led to some buoyancy in the Asian markets, while European markets are also higher amid rising risk appetite. However, the lack of any other directional cues could introduce caution, especially ahead of the key domestic data of the next two days. The Dow futures are rising 32 points, the S&P 500 futures are adding 3.60 points and the Nasdaq 100 futures are moving up 9.50 points. U.S. stocks advanced on Tuesday amid the Congressional testimony by the new Fed Chair Janet Yellen, where she stated her intention to maintain continuity with the policies of her predecessor Ben Bernanke.