U.S. stock futures point to a weaker open Wednesday morning after ending the previous session mixed on weak economic data. Earnings from a slew of companies and economic data related to durable goods orders and Beige Book will be in focus in today's session.
As at 6.15 a.m ET, the Dow futures were down 16.00 points, the S&P 500 futures were down 1.40 points, and the tech-heavy Nasdaq 100 futures were down 0.75 points.
On the economic front, the Commerce Department will release its report on durable goods orders for June at 8.30 a.m. ET. Economists expect that durable goods orders rose 1% during the month after declining 0.6% in the previous month.
At 10.30 a.m. ET, the Energy Information Administration will report its customary weekly oil inventor report for the week ended July 23.
The Federal Reserve will release its compilation of economic conditions in 12 Federal Reserve districts in the form of Biege Book at 2.00 p.m. ET. The report is expected to shed light on the economic health of these 12 districts.
Earnings continue to dominate the proceedings of the day.
Before the market opens, Alleghany Tech (ATI), Boeing (BA), Coca-Cola Enterprises (CCE), Comcast (CMCSA), Constellation Energy (CEG), ConocoPhilips (COP), Corning (GLW), Dominion (D), Eastman Kodak (EK), Hospira (HSP), International Paper (IP), Jones Apparel (JNY), Praxair (PX), Sprint Nextel (S), Silicon Labs (SLAB) and WellPoint (WLP) are among the major companies that will report quarterly results.
AMN Health Services (AMN), BioMed Realty (BMR), Cabot (CBT), Chemed (CHE), Logitech International (LOGI), Mylan Laboratories (MYL), Ryland Group (RYL), Teradyne (TER) and Visa (V) are among the major companies slated to release quarterly results after the markets close.
Earlier in the day, steel producer ArcelorMittal (MT) swung to a profit in its second quarter, compared to the prior year's loss, reflecting one-time gains, as well as double-digit sales growth. For the third quarter, the company provided a cautious outlook, and also said it is assessing a plan to spin-off of its stainless steel segment to its shareholders.
British American Tobacco Plc (BTI) reported a higher profit for the first half of the fiscal, with revenues rising 8% from last year. Further, the company hiked its interim dividend by 19%.
Traders might also react to reports released after the market closed in the previous session.
Office properties owners and developer Boston Properties Inc. (BXP) reported a decline in second quarter funds from operations from last year, hurt by lower gains on sales of real estate and a fall in rental revenue. However, FFO results came in well ahead of Street expectations, as did revenues.
Commercial real estate services provider CB Richard Ellis Group, Inc. (CBG) reported a profit for the second quarter, compared to a loss last year, reflecting higher revenues on improved performance across geographic segments. Both earnings and revenue for the quarter came in ahead of analysts' estimates.
Oil Light sweet crude oil for August delivery is presently quoted at $77.25 a barrel, down $0.25 a barrel from its previous close of $77.50 a barrel in New York on Tuesday. Dollar The U.S. dollar is presently weakening against the yen, but it is showing choppy trading against the euro and the pound.
World Markets The major markets in Asia, excluding India, ended Wednesday's session higher on optimism about corporate earnings despite weak cues from Wall Street where the major averages ended mixed around the unchanged line. Positive earnings from Japanese camera and photocopier maker Canon, the yen's weakness and weaker than expected inflation data from Australia also impacted market sentiment. The Indian market, however, ended in negative territory on profit taking ahead of derivatives closure on Thursday. The European markets are presently trading in the red, having pared much of the early gains on profit taking.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.