Investing.com - U.S. stock futures pointed to a lower open on
Wednesday, as markets awaited a fresh batch of fourth-quarter
earnings reports later in the day.
Ahead of the open, the Dow Jones Industrial Average futures
pointed to a 0.22% fall, S&P 500 futures signaled a 0.10% loss,
while the Nasdaq 100 futures indicated a 0.01% dip.
Market sentiment had improved on Tuesday after the International
Monetary Fund raised its forecast for global economic growth.
However, the IMF also warned that the pace of the recovery will
remain "weak and uneven".
The IMF said it expects the global economy to grow by 3.7% in
2014, which in October it said would expand by 3.6% this year.
Investors still remained cautious amid expectations for a
reduction to the Federal Reserve's quantitative easing program at
the outcome of its next policy meeting on January 29 to USD65
billion from the current USD75 billion.
Software companies were expected to be in focus, as
International Business Machines plungd 3.25% in pre-market trade
after citing "challenges" at its server unit. China's Lenovo Group
is curently said to be in discussions to acquire IBM's low-end
In addition, IBM reported a seventh straight quarterly sales
decline amid plunging demand for servers, prompting top executives
to forgo annual bonuses. Revenue dropped 5.5% to USD27.7 billion in
the fourth quarter.
Online retailer Amazon.com was also likely to be active, amid
reports the company has approached U.S. media companies to acquire
rights for an online pay-television service. Amazon shares were up
0.03% in early trading.
Elsewhere, JetBlue Airways was slated to be in the spotlight, as
the company was preparing for a second day of flight cancellations
after a winter storm disrupted travel in New York, the heart of its
Meanwhile, International Dairy Queen, the fast-food chain owned
by Berkshire Hathaway, reportedly opened locations in Taiwan and
Vietnam, in a move to expand beyond the U.S and Canada.
Other stocks likely to be in focus included United Technologies
Corporation, US Bancorp, Northern Trust and Progressive
Corporation, scheduled to report fourth-quarter results later in
Across the Atlantic, European stock markets were lower. The EURO
STOXX 50 fell 0.22%, France's CAC 40 edged down 0.15%, Germany's
DAX slid 0.35%, while Britain's FTSE 100 eased 0.09%.
During the Asian trading session, Hong Kong's Hang Seng Index
rose 0.21%, while Japan's Nikkei 225 Index edged up 0.16%.
offers an extensive set of professional tools for the financial
Read more News on Investing.com and download the new
Investing.com Stocks & Forex App