Wall Street pointed toward early gains today after the U.S. Federal Reserve indicated it may not need to pump the brakes any harder on the economy, according to the Associated Press. Futures for the Dow Jones industrials rose 0.4% before the bell, and the S&P 500 ticked 0.6% higher.
More corporate earnings and mergers are driving markets higher as well. Starbucks climbed more than 5% before the bell today, posting record fourth quarter revenue. Clorox shares jumped almost 12% after the bleach maker easily beat Wall Street profit targets, and PayPal rose 6.5% on its strong quarterly results.
Also today, Cedar Fair and Six Flags said they will merge to create an expansive amusement park operator with locations spread across 17 U.S. states and three countries.
In energy trading, benchmark U.S. crude added $1.23 to $81.67 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the international standard, gained $1.25 to $85.88 per barrel.
The U.S. dollar edged down to 150.36 Japanese yen from 150.96 yen.
