Stock Futures Rise as Investors Accept a Rate Hike as More Likely

New York (Nov 11)  Stock futures were slightly higher on Wednesday as markets may be getting used to the idea of an interest rate hike in December.

S&P 500 futures were up 0.36%, Dow Jones Industrial Average futures rose 0.34%, and Nasdaq futures posted a slight gain of 0.31%.

 The bond market will be closed Wednesday for Veterans Day and limited economic data will be released.

Benchmark U.S. indexes increased less than 1% on Tuesday as investors realize a rate hike is more likely next month. According to the CME's Group's Fed fund futures, there is 70% chance for a December rate hike, up from 30% a few weeks ago.

 Stock futures rose despite mixed economic data from China that showed signs of a slowing economy. Industrial production growth in China for October was 5.6%, a decline from the 5.7% reported in September. Retail sales in China rose 11%.

 According to the American Petroleum Institute, U.S. crude stockpiles increased 6.3 million barrels last week, which was more than expected. West Texas Intermediate crude oil was moving lower on Wednesday, down 1.09% to $43.73 a barrel.

Anheuser Busch Inbev (BUD)  finalized a $107 billion bid for SABMiller (SBMRY) . A combination of the two companies would create the largest beer company in the world. 

Source: TheStreet