US futures higher; Macy's posts mixed results

Wall Street looked set for a higher open on Wednesday, with trade seen quiet due to Veterans Day in the U.S. and Armistice Day in most of Europe.

U.S. bond markets are unofficially closed.

"Markets will be short-staffed, quiet and largely devoid of news," said Kit Juckes, macro strategist at Societe Generale, in a report on the day.

No major economic data is due. Macy's posted better-than-expected earnings per share but missed revenue expectations.

Shares of Macy's shares have fallen nearly 30 percent so far this year as traditional retailers struggle to compete with online stores.

Other stocks to watch on Wednesday include Alibaba. The New York Stock Exchange-listed company said that just halfway through this year's "Singles' Day" shopping event in China, it had already trumped last year's record sales result. It generated $10 billion gross merchandise volume within 14 hours of the day starting at midnight on Wednesday in China.

In addition, AB InBev's takeover of SABMiller was confirmed on Wednesday. The Belgian brewing giant will pay £44 ($67) per share for the London-listed drinks company, valuing it at $105 billion.

The deal is expected to complete in the second half of 2016. AB InBev will sell SABMiller's MillerCoors division and the Miller Global Brand Business to Molson Coors.

Overall, European shares were higher, while Asian shares traded mixed after weak data from China. While Chinese fixed-asset investment growth came in in line with expectations, industrial production growth in October disappointed. It cooled to 5.6 percent year-on-year.

On Tuesday, U.S. averages finishing narrowly mixed. The Dow Jones industrial average and S&P 500 edged up 0.2 percent each, while the tech-heavy Nasdaq Composite slipped 0.2 percent, pressured by a more than 3 percent decline in Apple. This came after a Credit Suisse report said the iPhone maker has cut its component orders by as much as 10 percent.