Stock index futures pointed to a slightly higher open on Wednesday ahead of the release of U.S. CPI data but disappointing quarterly reports from UBS and Intel Corp weighed on the market.
* Nasdaq 100 futures pointed to a lower open after Intel Corp
* U.S. CPI data, due out at 8.30 a.m. EDT, could contain ominous signs for those worried about deflation. Prices are expected to have ticked up a tenth of a percent in March from February, both month-to-month and on a core basis, which excludes food and energy.
* Swiss bank UBS
* It is going to be as much about economic data today as it is about corporate earnings, said Arthur Hogan, chief market analyst at Jefferies & Co in Boston.
* What were really looking to see is how much of an effect we see on deflation, anything that's eye-popping outside of the consensus would certainly be conceived as negative news. Its virtually impossible to get this economy to grow again in a deflationary environment.
* Intel was better than expected last night but as we come in this morning UBS came out lighter than expected, he continued. The push pull there is at the very best neutral territory in early trade.
* S&P 500 futures rose 0.9 points and were below 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 rose 33 points, and Nasdaq 100 futures lost 8.50 points.
* Peabody Energy
* Abbott Laboratories
* AMR Corp
* eBay Inc
* Industrial production data is on tap at 9.15 a.m. EDT, while manufacturing data for the New York area is due at 8.30 a.m. EDT.
* Yahoo Inc
* The Wall Street Journal reported that JPMorgan Chase & Co
* The U.S. government is considering swapping some of the $13.4 billion it lent General Motors for ownership in a stripped-down version of the auto maker, a move it hopes will push the United Auto Workers union and bondholders to accept similar concessions, said the Wall Street Journal, citing people familiar with the matter.
* U.S. stocks fell on Tuesday as a surprising drop in retail sales dented hopes the recession was abating and financial shares slid on fears that Goldman Sachs'
(Reporting by Edward Krudy; Editing by Theodore d'Afflisio)