US Futures Moderately Higher as Chinese Economy Accelerates

US stock futures posted moderate gains Wednesday after China reported better-than-expected economic growth for Q1, helping boost market sentiment, while traders evaluated a fresh batch of corporate earnings.

S&P 500 futures and Dow Jones Industrial Average futures were each up 0.3%, and Nasdaq-100 futures gained 0.4%.

Oil prices rose, with global benchmark Brent crude up 0.57% and US West Texas Intermediate crude up 0.58% on signs of strong demand from Chinese refineries.

At 8:30 am, data are expected to show the trade deficit widening to a consensus of $53.6 billion for February from January's $51.1 billion deficit, according to data compiled by Econoday.

At 10 am, forecasters see March wholesale inventories inching higher for a 0.3% gain vs. a 1.4% revised gain for February.

In equities, shares of DPW (DPW) soared 57.1% after the company's 2018 net loss narrowed on higher revenue compared with 2017.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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