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U.S. futures lower ahead of data; Dow Jones down 0.19%

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Shutterstock photo - U.S. stock futures pointed to a lower open on Wednesday, as markets awaited the release of U.S. economic reports, while the results of an earlier Italian government bond auction weighed.

Ahead of the open, the Dow Jones Industrial Average futures pointed to a 0.19% fall, S&P 500 futures signaled a 0.20% loss, while the Nasdaq 100 futures indicated a 0.21% decline.

Market sentiment remained under pressure after Italy saw the yield on three-year bonds rise to the highest level since December at the first auction of the country's debt since a one-notch downgrade by Fitch's ratings agency last week in the wake of inconclusive elections.

Aircraft maker Boeing was expected to be active after the company won approval from U.S. transport regulators on Tuesday to start testing a redesigned battery for the 787 Dreamliner, bringing it one step closer to getting the troubled airplane back into regular service.

Separately, Bloomberg reported that Boeing won an order from Ryanair Holdings worth USD15.1 billion, selling 170 737-model planes that are due be phased out in favor of the re-engined Max version.

Boeing shares climbed 0.74% in pre-market trade.

Pharmaceutical companies were also likely to be in focus, after Spectrum Pharmaceuticals said 2013 revenue will be far lower than expected, sending shares diving 39.66% in early trading.

In the tech sector, Oracle shares advanced 0.82% pre-market after Canaccord Genuity Corp. upgraded the company to "buy" from "hold".

In addition, Samsung Electronics was said to be unveiling the new Galaxy S4 a few blocks from Apple's flagship store in New York and broadcasting the event live in Times Square. The news sent the iPhone maker's shares down 0.40% in pre-market trade.

Elsewhere, Deutsche Telekom's proposal to combine its T-Mobile USA unit with smaller MetroPCS Communications reportedly won approval from U.S. competition and telecommunications authorities.

Across the Atlantic, European stock markets were lower. The EURO STOXX 50 dropped 0.55%, France's CAC 40 slid 0.43%, Germany's DAX edged 0.13% lower, while Britain's FTSE 100 retreated 0.87%.

During the Asian trading session, Hong Kong's Hang Seng Index tumbled 1.46%, while Japan's Nikkei 225 Index declined 0.61%.

Later in the day, the U.S. was to release government data on retail sales, as well as official data on import prices, business inventories and crude oil stockpiles. - offers an extensive set of professional tools for the Forex, Commodities, Futures and the Stock Market including real-time data streaming, a comprehensive economic calendar, as well as financial news and technical & fundamental analysis by in-house experts.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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