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NEW YORK (AP) -- Wall Street is set to open higher Wednesday after two successful Italian bond auctions raised hopes that Italy will be able to roll over billions of euros of its debt this year.

Dow futures rose 0.2 percent at 12,244, while S&P 500 futures moved up 0.3 percent to 1,263.40. The Nasdaq composite rose 0.2 percent to 2,290.75.

The Bank of Italy said the average yield on its €9 billion ($11.8 billion) six-month offering was 3.251 percent, half the 6.504 percent rate it had to pay at the equivalent auction last month. In an auction of two-year bills, the yield fell to 4.853 percent from 7.814 percent last month.

The news pushed up stock prices across Europe.