NEW YORK (AP) ? U.S. stock futures edged higher Wednesday after the latest economic data showing that the U.S. economy grew at a slightly faster pace in the second quarter than initially thought.
However, trading is very light for a third straight day, with many investors waiting to hear what Federal Reserve Chairman Ben Bernanke says Friday at the central bank's annual meeting.
Dow Jones industrial futures rose 12 points to 13,098. The broader S&P futures added 1.7 points to 1,409.50. Nasdaq futures tacked on 5 points to 2,785.75.
The U.S. economy grew at a 1.7 percent annual rate from April through June thanks to slightly stronger consumer spending and greater exports.
Growth was a bit better than the Commerce Department's initial estimate of 1.5 percent.
While that rate of growth would not put a dent in the unemployment rate, it sets the stage for slightly better growth in the second half of the year, albeit at a meager rate of around 2 percent.
Global markets on Wednesday sank on the perception that a full-blown bailout for Spain is growing more likely.
On Tuesday, the northeastern region of Catalonia said it would seek $6.29 billion in aid from the central government, which is already struggling to contain a banking crises brought on by a real estate collapse.
In Europe, the FTSE index of leading British shares fell 0.5 percent to 5,747. France's CAC-40 pulled back 0.7 percent to 3,409, while the DAX in Germany was down 0.6 percent at 6,960.
There were a number of positive earnings reports from the U.S. retail sector Wednesday.
JoS. A. Bank posted a 13 percent jump in revenue during the second quarter and blew away profit expectations on Wall Street, sending shares up 11 percent in premarket trading.
H.J. Heinz Co. posted a 14 percent spike in first-quarter net income, driven by higher prices, strength in emerging markets and better results in the U.S.
The Fresh Market Inc. said that its second-quarter net income jumped 27 percent as more shoppers spent more at its grocery stores.
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