MARKET SNAPSHOT: U.S. Stocks: Futures Up; New Home Sales On Deck

By Carla Mozee, MarketWatch

LONDON (MarketWatch) -- U.S. stock futures indicated gains for Wall Street on Wednesday, with housing data expected to show a modest bump up in sales and investors on the lookout for hints about interest rates from two Federal Reserve members due to speak.

Futures for the Dow Jones Industrial Average (DJZ4) rose 20 points, or 0.1%, to 16,983, while those for the S&P 500 index (SPZ4) picked up 2.7 points, or 0.2%, to 1,974.90. Futures for the Nasdaq 100 index (NDZ4) tacked on 1.7 points, or 0.1%, to 4,038,50.

A gain for Wall Street would break three straight sessions of losses. Stocks fell Tuesday as investors flocked to perceived safe-haven investments such as U.S. Treasurys on concerns about slowing global growth and escalating war in the Middle East. The S&P 500 (SPX) lost 0.6% Dow industrials (DJI) gave up 0.7%, and the Nasdaq Composite (RIXF) declined 0.4%.

Data: At 10 a.m. Eastern, the U.S. Commerce Department will release its report on August new home sales. Analysts are looking for a modest gain to a seasonally adjusted annual rate of 426,000. The pace of sales in July fell to a four-month low at 412,000.

Crédit Agricole expects August new home sales to have risen to a rate of 424,000 in the wake of strengthening confidence among home builders. The NAHB Housing Market Index in August held to a "healthy reading above 50," and in particular, "sentiment improved in the Northeast and Midwest regions where sales have fallen over the past two months," said Crédit Agricole economist Philippe Vilasboas in a note.

Stocks to watch: The Securities and Exchange Commission's enforcement division is investigating whether bond giant Pacific Investment Management Co., run by investor Bill Gross, artificially boosted the returns its Pimco Total Return (BOND) exchange-traded fund, The Wall Street Journal reported late Tuesday.

Shares of Citizens Financial Group (CFG) are expected to begin trading on the New York Stock Exchange. The regional bank's initial public offering price of $21.50 a share is below the company's expected range of between $23 and $25 a share.

Bed, Bath & Beyond (BBBY) shares surged in late trade on earnings.

Shares of Atossa Genetics (ATOS) lost half their value late Tuesday after the Food and Drug Administration didn't clear its ForeCYTE breast aspirator for marketing in the U.S.

Starbucks (SBUX) could be in focus on news it's moving to take full ownership of its Japanese operations for more than $900 million.

Lipocine (LPCN) is slated to hold a conference call discuss "top-line results" from its late-stage study of an oral Androgen replacement.

Other markets: Japan's Nikkei Average shed 0.2%. Meanwhile, the dollar fell against the yen (USDJPY) after Japan's prime minister said he's cautious about the yen's recent weakness.

European stocks slipped following their worst session since July on Tuesday. Gold futures (GCZ4) edged up and oil futures (CLX4) were little changed ahead of weekly supply data from the U.S. Energy Information Administration.

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