Wall Street eyes further gains in light trade - Markets to close 1pm

New York (Dec 24)  U.S. stock index futures signaled a higher open on Wednesday, with volumes expected to be thin as markets close early for the Christmas holiday.

Investors cheered yesterday's so called "Santa rally" which saw the S&P 500 and the Dow Jones Industrial Average set records in a fifth day of gains after data showed the U.S. economy expanded in the third quarter by the most in 11 years.
The Dow broke through and closed above 18,000 for the first time Tuesday, and the S&P 500 closed at a record 2,082, just 18 points shy of 2,100.

Stocks close at 1 pm E.T. for the Christmas holiday, and reopen for a full trading day Friday morning.

Data expected on Wednesday includes weekly jobless claims at 08:30 am E.T. and the MBA Mortgage Index at 07:00 am E.T.

European shares were mixed on Wednesday, failing to gain traction from the rally seen in the U.S.

The U.K.'s FTSE 100 is set to close at 12.30 p.m. London time with the major European bourses ending at 1.00 p.m. London time. Indexes in Italy and Germany are both closed throughout the day.

In Russia, the MICEX index was flat despite ratings agency Standard & Poor's warning late Tuesday that it could soon downgrade Russia's rating to "junk" status.

Source: CNBC