* Futures up: Dow 13 pts, S&P 0.5 pts, Nasdaq 4.5 pts
By Yashaswini Swamynathan
Jan 11 U.S. stock index futures were little
changed on Wednesday ahead of President-elect Donald Trump's
first formal news conference where he is expected to give more
insight into his plans to boost economic growth.
* Trump, who takes office on Jan. 20, is scheduled to speak
in New York at 11:00 a.m. ET (1600 GMT).
* Trump's election in November sparked a record-setting
rally, but investors now want evidence on whether he keeps his
campaign-trail promises to stimulate the economy through
increased public spending, tax cuts and the repatriation of U.S.
companies' funds from overseas.
* The dollar, which has also basked in Trump's
victory, was up against the yen. However, concerns of some of
his protectionist statements have kept investors wary.
* Keeping futures afloat were oil prices, which edged up for
the first time in three days after Saudi Arabia provided details
of a February supply cut to some of its Asian customers.
* Investors are also closely watching the upcoming corporate
earnings season, which kicks off with big banks on Friday, to
see if financial results can support the lofty valuations Wall
Street is trading at.
* The combined profit of S&P 500 companies is estimated to
have risen 5.8 percent in the fourth quarter - the best in three
years - largely helped by financials stocks, according to
Thomson Reuters I/B/E/S.
* New York Federal Reserve President William Dudley is
expected to speak on banking regulations at 01:20 p.m. ET.
* Among stocks, Merck rose 1.85 percent to $61.03
premarket after the FDA agreed to a speedy review of the
company's application to combine immunotherapy with other drugs
to treat lung cancer.
* AstraZeneca and Bristol-Myers, which are
also developing similar therapies, were down 1.5 percent and 3.3
* Archer Daniels fell 5.6 percent to $41.96 after
China increased punitive tariffs on U.S. imports of an animal
feed which would affect the global ethanol trader.
Futures snapshot at 6:53 a.m. ET:
* Dow e-minis were up 13 points, or 0.07 percent,
with 17,569 contracts changing hands.
* S&P 500 e-minis were up 0.5 points, or 0.02
percent, with 91,723 contracts traded.
* Nasdaq 100 e-minis were up 4.5 points, or 0.09
percent, on volume of 15,161 contracts.
(Reporting by Yashaswini Swamynathan in Bengaluru; Editing by