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Stock futures rise ahead of retail data

(Reuters) – U.S. stock index futures were higher on Wednesday as a global bond selloff eased and investors waited for a ream of data including U.S. retail sales for April.

U.S. retail sales likely continued to recover in April as pent up demand sent consumers shopping after a slow winter season. The data will be released at 8:30 a.m. ET.

The government will also release business inventories data for March at 8:30 a.m. ET, which is expected to show a rise of 0.2 percent, compared with an increase of 0.3 percent in February. Import and export data for April will be released at 10 a.m. ET.

European stock markets rose after France posted its fastest economic growth rate in two years in the first three months of the year.

U.S. stocks closed down but off their lows on Tuesday as bond prices rallied.

Shares of pipeline company Williams Partners LP jumped 14 percent to $54 in premarket trading after Williams Cos said it would buy its affiliate for about $13.8 billion.

Owens-Illinois rose 2.7 percent to $24.44 after the glass container maker said it would buy the food and beverage glass container business of Mexico’s Vitro SAB de CV for $2.15 billion.

Delta Airlines rose 2.4 percent to $47.20 after it announced a $5 billion buyback program and raised its quarterly dividend to 13.5 cents per share from 9 cents.

Earnings expected before the bell include Macy’s and Ralph Lauren. Shake Shack reports after the close.

Futures snapshot at 7:07 a.m. ET:

S&P 500 e-minis were up 5.75 points, or 0.27 percent, with 91,828 contracts traded.

Nasdaq 100 e-minis were up 16.5 points, or 0.37 percent, on volume of 17,871 contracts.

Dow e-minis were up 44 points, or 0.24 percent, with 18,186 contracts changing hands.

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