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NEW YORK (CNNMoney) -- U.S. stock futures were higher Wednesday ahead of several key economic reports.
Investors who have spent the past few days fretting over the fiscal cliff have a bevy of economic data to mull over Wednesday.
At 8:30 a.m. ET, the Census Bureau will publish a report on retail sales for October, providing a snapshot of consumer strength in the slow-moving recovery. With Superstorm Sandy weighing on consumers, retail sales are expected to have declined by 0.2% in the month, according to a survey of analysts by Briefing.com.
The Bureau of Labor Statistics will also release data on producer prices for October at 8:30 a.m. ET, which are expected to have increased by 0.1% -- led by higher energy and food prices.
Following the opening bell, the Census Bureau will report data on business inventories for September, which are projected to have increased by 0.6%.
Then at 2 p.m. ET, the Federal Reserve will post the minutes of its policy meeting from late October, though no major news is expected from that report.
Overall, investors remain unwilling to place any big bets, while lawmakers try to strike a deal that would prevent the onset of sharp spending cuts and tax increases in January. President Obama plans to meet with a number of business leaders on Wednesday and congressional leaders on Friday to discuss the issue.
U.S. stocks ended modestly lower Tuesday.
Fear & Greed Index
Fiscal pressure continues to weigh on Europe as well, where anti-austerity strikes are planned Wednesday as part of a "Day of Action and Solidarity." Europe markets fell Wednesday morning, as Britain's FTSE 100 lost 0.6%, the DAX in Germany fell 0.3% and France's CAC 40 declined 0.4%
Meanwhile, Asian markets ended higher after a modest rebound that pared earlier losses. Investors are waiting for the China's Communist Party to confirm its new leaders. The Shanghai Composite edged up 0.4%, the Hang Seng in Hong Kong jumped 1.2%, and Japan's Nikkei ended just above breakeven.
Companies: Staples (SPLS, Fortune 500) announced its third-quarter results, beating the Street on earnings but falling short on revenue.
Abercrombie & Fitch (ANF) is also scheduled to report quarterly results Wednesday morning.
Toyota Motor (TM) shares fell 1.3% in premarket trading, after the Japanese automaker announced Wednesday that it is recalling 2.77 million cars worldwide. The recall mainly covers certain Prius models and was prompted by a problem with the steering intermediate extension shafts, which can suffer damage if sharp turns are made at slow speeds. About 670,000 of the recalled cars were sold in the United States.
Cisco (CSCO, Fortune 500) shares rose 8.3% in premarket trading. The tech giant reported profits and sales that beat expectations after the closing bell Tuesday.
Zynga (ZNGA) announced Tuesday afternoon that its CFO, Dave Wehner, was leaving for a job at Facebook (FB).
Related: Opinion: Gold bugs love fiscal cliff fears
Currencies and commodities: The dollar fell against the euro, but rose versus the British pound and the Japanese yen.
Oil for December delivery added 21 cents to $85.59 a barrel.
Gold futures for December delivery fell $1.70 to $1,723.10 an ounce.
Bonds: The price on the benchmark 10-year U.S. Treasury fell, pushing the yield higher to 1.62% from 1.59% late Tuesday.
First Published: November 14, 2012: 6:04 AM ET
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