Investing.com - U.S. stock market futures pointed to a lower open on Wednesday, as investors looked ahead to key U.S. economic data later in the day for further indications on the strength of the economy and the future course of monetary policy.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a loss of 0.3%, S&P 500 futures signaled a drop of 0.4%, while the Nasdaq 100 futures indicated a decline of 0.4%.
Wall Street ended modestly higher on Tuesday after data showed that U.S. factory orders fell less-than-expected in December.
Ahead of the bell, the U.S. is to release the ADP report on private sector job creation, which leads the government’s highly-anticipated nonfarm payrolls report by two days, while the ISM is to publish data on service sector activity shortly after markets open.
Investors will also watch speeches from Philadelphia Federal Reserve President Charles Plosser and Atlanta Fed President Dennis Lockhart later in the day.
Time Warner rose 0.8% in pre-market trade after reporting better-than-expected fourth quarter earnings and revenue. The company authorized a 10% boost in quarterly dividend and announced a new USD5 billion share buyback program.
Other stocks that will likely see active trading include, Twitter, Yelp and Walt Disney, which are all expected to release quarterly earnings after Wednesday’s closing bell.
Across the Atlantic, European stock markets were mildly higher, as encouraging euro zone private sector data for January offset a report showing a sharp fall in retail sales in the region in December.
The EURO STOXX 50 rose 0.15%, France’s CAC 40 added 0.3%, Germany''s DAX was flat, while Britain''s FTSE 100 inched up 0.3%.
Asian stock markets ended mostly higher on Wednesday, with Japan’s Nikkei 225 Index bouncing off the previous session’s three-month low, as the global selloff that has shaken markets in recent weeks paused.