NEW YORK (CBS.MW) -- U.S. shares are set to open on a mixed note Wednesday, with strength emerging in the tech sector while the broader market is seeing some early weakness.
March S&P 500 futures erased 2.20 points, or 0.2 percent, and were trading 3.50 points below fair value, according to HL Camp & Co. And Nasdaq futures gained 9.00 points, or 0.6 percent, and were trading about 5.20 points above fair value.
European bank shares came under pressure as news that Allied Irish Banks suspected a fraud totaling $750 million at its Baltimore subsidiary hit the wires. A rogue trader in the foreign exchange division is believed to be at the center of the probe
Gold continued to trek higher following Tuesday's smashing performance. The futures markets are currently showing a gain of almost $4.90 to $304 on the back of a $9 advance on Tuesday.
Meanwhile, while not many economic reports are lined up for this week, one worth delving into is the fourth-quarter productivity report. It's seen rising 3 percent, according to economists polled by CBS MarketWatch.com, up from 1.5 percent form the third quarter. Productivity has held up amazingly well during the current recession, keeping inflation under wraps.
In the government bond arena, the 10-year Treasury note was up 1/32 to yield 4.895 percent while the 30-year government bond climbed 1/32 to yield 5.345 percent.
In the currency sector, the dollar fell 0.3 percent to 133.50 yen while the euro edged down 0.1 percent to 86.64 cents.
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