US stocks futures point to higher open

NEW YORK, Dec 28 (Reuters): US stock index futures pointed to a slightly higher open on Wednesday in what looks like another low-volume session, with investors waiting for the start of 2012 before placing any large bets. Equities ended mostly unchanged on Tuesday on about half of the year's daily average volume as investors paused following a 5 per cent gain in the previous week. Markets may continue to struggle for direction, with no major economic indicators on tap or S&P 500 companies scheduled to report quarterly results until January. European shares were modestly higher on light volume, rising 0.5 per cent after short-term Italian debt costs were cut in half at an auction, which improved confidence about demand for Thursday's Italian long-term bond sale. "This portends good news and is a positive as the European Union tries to become more stable," said Tim Speiss, head of personal wealth advisors at EisnerAmper in New York. "However, with the limited participation, I still expect today to be fairly quiet and flat." Wall Street movements have been closely correlated to European markets in recent weeks as the region deals with a debt crisis, but the problems have receded into the background with the lack of new developments.