U.S. stock index futures pointed to a lower open on Wall Street on Wednesday, following recent gains, as investors braced themselves for more results from bellwethers such as Morgan Stanley
At 5 a.m. ET, futures for the S&P 500 were down 0.6 percent, Dow Jones futures were down 0.8 percent and Nasdaq 100 futures were down 0.5 percent.
After the bell on Wall Street on Tuesday Apple posted quarterly profits that beat forecasts, helped by robust sales of Macs and iPhones and higher than expected gross margins, sending its shares rising 4 percent in extended trading. Apple shares traded in Frankfurt
Also LG Electronics <066570.KS> reported a surge in second-quarter operating profit, boosted by strength in its mobile phone and TV businesses.
Procter & Gamble Co
According to the sources, P&G's pharmaceutical unit could be worth about $3 billion, the Journal said.
Oil slipped below $65 a barrel on Wednesday after data showing an unexpected rise in U.S. crude stocks suggested demand in the world's top energy consumer was still weak. The market is awaiting U.S. Energy Information Administration (EIA) data later on Wednesday to see if they will confirm the American Petroleum Institute's (API) figures.
The dollar held steady against most major currencies on Wednesday, recouping losses from earlier in the session after Federal Reserve Chairman Ben Bernanke said U.S. interest rates would stay low for some time.
Japan's Nikkei index gained 0.7 percent to hit its highest level in more than two weeks on Wednesday, while European shares were down 0.7 percent in early trade, halting a seven-session winning run, with miners such as Rio Tinto
U.S. shares gained ground on Tuesday as strong results from Caterpillar Inc
The Dow Jones industrial average <.DJI> gained 67.79 points, or 0.77 percent, to 8,915.94 on Tuesday. The Standard & Poor's 500 Index <.SPX> rose 3.45 points, or 0.36 percent, to 954.58. The Nasdaq Composite Index <.IXIC> added 6.91 points, or 0.36 percent, to 1,916.20 -- a closing high for the year.
(Reporting by Blaise Robinson; Editing by Greg Mahlich)