Nasdaq index futures fell on Wednesday after technology heavyweight Apple missed earnings expectations, while the broader market was little changed after a big run-up in the last session on a report Europe may beef up its crisis fund.
U.S. stocks surged in late trading Tuesday after a report of a deal to strengthen the euro zone's rescue fund. The S&P 500 index has struggled to make progress as it approaches the top end of a two-month trading range at around 1,250.
Apple certainly is a surprise to the market although to some extent it may be mitigated by pushing orders from one quarter to another, said Rick Meckler, president of investment firm LibertyView Capital Management in New York.
Europe is still the biggest story in this market and the rumors yesterday of a large cash infusion are positive to the market on so many levels.
S&P 500 futures fell 3.7 points and were in line with fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures gained 8 points, but Nasdaq 100 futures were off 19.50 points.
Two senior European Union officials dismissed a report in Britain's Guardian newspaper that France and Germany reached a deal to pump up the euro zone's rescue fund to more than 2 trillion euros.
Europe stayed in focus as Greek unions began a 48-hour general strike, the biggest protest in years, as parliament prepared to vote on sweeping austerity measures designed to stave off a default that could trigger a crisis in the region.
(Editing by Jeffrey Benkoe)