European markets cheer US-EU bilateral trade deal negotiations (Barcelona) - The German DAX 30 (+0.46%), the French CAC 40 (+0.13%), the Italian FTSE MIB (+0.25%) and the Spanish IBEX 35 (+0.75%) are edging higher on Wednesday in reaction to yesterday's State of the Union speech by US President Obama. He proposed lifting the minimum wage from $7.25/hr to $9, announce a new US-EU bilateral trade deal, and called for Congress to deal with the sequester that will take effect on March 1.

Futures for the American S&P 500, Nasdaq 100 and Dow Jones 30 are signaling a higher opening ahead of the NY session by 0.15%-0.30%. The economic calendar will provide the release of US import and export prices, retail sales, business inventories and a 10-year note auction. US Treasury Secretary Nominee Lew will speak at 15:00 GMT.