FOREX WORLD TREND

Stock futures were higher on Wednesday, one day after investors closed the books on the best quarter since 203.

Less than 45 minutes before the start of trading in New York, futures on the Dow Jones Industrial Average were higher by about 33 points. Futures on the S&P 500 and Nasdaq were also stronger. Changes in futures don't always accurately predict early market moves after the opening bell.

Futures dipped slightly after a report from ADP showed private-sector job losses of 473,000 last month, surpassing expectations that the report would show job losses of about 400,000.
The Dow industrials rose 11% in the second quarter. But investors remain wary – the benchmark is still negative for the year to date, down 3.8%, and it remains 40% from the all-time high hit in Oct. 2007.

Overseas Wednesday, China's Shanghai Composite climbed 1.7% to move over the 3,000 mark for the first time in more than a year after the China Federation of Logistics & Purchasing said its purchasing managers' index rose for a fourth straight month. Elsewhere in Asia, a Japanese gauge of business activity for the second quarter rose but came in below expectations.

Manufacturing gauges in the U.K. and the euro zone showed improvement but remained below the level that indicates economic expansion. European stocks strengthened nonetheless, with the FTSE 100 rising 1.4% in London.

At 10 a.m. Eastern time, the Institute for Supply Management will release its latest reading on U.S. manufacturing activity.

Shares of American International Group were down sharply after the insurer's shareholders approved a 1-for-20 reverse stock split. Many shareholders are likely evening out positions or getting in or out of the market now that the split has taken effect. The stock was recently down 38%.

Crude-oil futures rose more than $1, lifted by supportive supply. The front-month August contract on the New York Mercantile Exchange was recently trading $1.11 higher at $71 a barrel.

The dollar rose against the yen but fell against the euro. Treasury prices were mixed, with the 10-year note declining 14/32 to yield 3.591%.
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