Stock index futures indicate higher open

LONDON (Reuters) - Stock index futures pointed to a higher open on Wall Street on Wednesday, with futures for the S&P 500, Dow Jones and Nasdaq 100 futures all up 0.2 percent at 0455 EDT ( 0855 GMT).

U.S. stocks climbed on Tuesday in a broad rally, recovering from sharp declines sparked by a "bogus" Associated Press tweet about explosions at the White House.

Wednesday's diary sees U.S. weekly mortgage market index and durable goods figures. Treasury Secretary Jack Lew also testifies in front of Congress.

Apple Inc on Tuesday bowed to investors' demands to share more of its $145 billion cash pile, while posting its first quarterly profit decline in more than a decade after market close yesterday. The tech giant initially rose in extended trade, then retreated after the company's chief executive suggested there would be no new product in the market for a few months.

KFC parent Yum Brands Inc on Tuesday reported that quarterly profit fell less than Wall Street expected, despite a sharp drop in sales in its top China market, sending the company's shares up nearly 6 percent in after hours trade.

Cable operator Virgin Media posted a 54 percent rise in first quarter free cash flow and announced a series of major business deals on Wednesday, showing the attraction of a company that is about to be sold to Liberty Global.

AT&T Inc reported a net loss of cellphone subscribers in the first quarter as it lost market share to bigger rival Verizon Wireless, sending its shares down about 2 percent in after hours trade.

OPKO Health Inc will buy Israel-based biopharmaceutical company Prolor Biotech Inc in an all-stock deal valued at $480 million to expand its portfolio of specialty drugs.

European shares gained on Wednesday, building on the best session of the year so far on Tuesday. Good earnings reports helped the market higher, while disappointing data from Germany over the last two days has lent strength to the case for the European Central Bank to cut interest rates next week.

(Reporting by Alistair Smout; editing by Patrick Graham)

Source: http://news.yahoo.com/wall-street-jumps-recovery-twitter-led-drop-012743441--sector.html

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