US stock futures little changed on Wall Street

Staff Writer
Columbus CEO

NEW YORK (AP) — U.S. stock futures are steady Wednesday with the market market hovering at record levels. Shares in Toll Brothers climbed in early trading after its profits doubled on strong demand for new homes.

KEEPING SCORE: Less than an hour before the opening bell, Dow Jones industrial average futures are up two points to 16,657. Standard & Poor's 500 index futures are down a point to 1,909 while Nasdaq 100 futures have given up three points to 3,718.

DRUG DEAL: Valeant Pharmaceuticals added more cash to its offer to buy Botox maker Allergan in a bid that could now be worth more than $50 billion. The Canadian drugmaker said is now offering $58.30, $10 more than its previous offer, and a portion of its own stock for each Allergan share. Allergan dropped 27 cents to $164.75 before the start of regular trading.

BUILDERS: Toll Brothers reported Wednesday that second-quarter profits more than doubled as the builder increased prices and delivered more houses. The company topped Wall Street expectations and shares jumped 4 percent before the opening bell.

EUROPE: Major European markets are little changed Wednesday. Germany's DAX and France's CAC 40 were flat. Britain's FTSE 100 added 0.1 percent

BONDS AND COMMODITIES: In the market for U.S. government bonds, the yield on the 10-year note sank to 2.47 percent from 2.52 percent late Tuesday. Crude oil slipped 12 cents to $103.97 a barrel. Gold edged up 70 cents to $1,266.20 an ounce.