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 Investors have been concerned about oil prices, which rose above $133 a barrel in premarket trading on the New York Mercantile Exchange after dropping a day earlier. Having breached $139 a barrel last week, record-high crude has increasingly been posing both an inflationary risk and a threat to growth.
Energy Department data on oil inventories is scheduled to be released at 10:30 a.m. Eastern time. The weekly report frequently offers clues about U.S. energy demand, which Wall Street has been trying to gauge as consumers adjust their budgets to accommodate $4-a-gallon gasoline.
Other data Wednesday that could tell investors how Americans are faring financially is the Federal Reserve's Beige Book. The monthly report provides readings on the U.S. economy by region.
Dow Jones industrial average futures rose 39, or 0.32 percent, to 12,315. Standard & Poor's 500 index futures rose 4.70, or 0.35 percent, to 1,360.90, and Nasdaq 100 index futures rose 4.25, or 0.22 percent, to 1,977.50.
The stock market finished mostly lower on Tuesday.
Bond prices were little changed ahead of the market's open. The yield on the benchmark 10-year Treasury note, which moves opposite its price, was at 4.11 percent, the same as late Tuesday.
The dollar slipped against other major currencies, while gold prices rose.
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 In addition to Energy Department data and the Fed's Beige Book, investors will be paying attention to a speech Wednesday by Fed Governor Donald Kohn.
Overseas, Japan's Nikkei 225 average closed 1.16 percent higher. In midday trading, Britain's FTSE 100 index rose 0.27 percent, Germany's DAX 30 index rose 0.12 percent, and the French CAC-40 index rose 0.30 percent.
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On the Net:
New York Stock Exchange: http://www.nyse.com/
Nasdaq Stock Market: http://www.nasdaq.com/
[Associated Press; By MADLEN READ]
Copyright 2008 The Associated Press. All rights reserved. This
material may not be published, broadcast, rewritten or
redistributed.
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