U.S. stock futures edged higher on Wednesday morning after retail sales data for February came in better than expected. Sales increased 1.1 percent, month over month, better than expectations for 0.5 percent growth.
Futures at 8:45 a.m.: DJIA: +0.01%, S&P 500: +0.05%, NASDAQ: +0.04%.
Boeing (NYSE:BA) has received approval from the Federal Aviation Administration to test a redesigned battery system for the 787 Dreamliner. “This comprehensive series of tests will show us whether the proposed battery improvements will work as designed,” commented Transportation Secretary Ray LaHood. “We won’t allow the plane to return to service unless we’re satisfied that the new design ensures the safety of the aircraft and its passengers.”
Chevron (NYSE:CVX) will invest $36.7 billion this year in oil and gas investments, with about a quarter of that expected to be spent the United States. Speaking on CNBC‘s “Closing Bell” on Tuesday, CEO John Watson indicated that the company plans to increase its production by 25 percent through 2017, with a significant part of that growth coming from U.S. shale.