Stock index futures pointed to a weaker open for equities on Wall Street on Wednesday, with futures for the S&P 500, for the Dow Jones and for the Nasdaq 100 down 0.4-0.7 percent.
Standard & Poor's reduced its credit ratings on 15 big banking companies, mostly in the Europe and the United States, on Tuesday as the result of a sweeping overhaul of its ratings criteria.
JPMorgan Chase & Co
The ADP Employment report for November, due at 1315 GMT, is expected to show its best reading since April and the third consecutive gain greater than 110,000. The Pending Home Sales Index, to be released at 1500 GMT, is seen rising for October.
Samsung Electronics <005930.KS> is set to resume selling its Galaxy tablet computer in Australia as early as Friday, after the South Korean technology firm won a rare legal victory in a long-running global patent war with Apple Inc
Newmont Mining Corp
U.S. communications regulators released a staff report criticizing AT&T Inc's
European stocks <.FTEU3> fell 0.8 percent on Wednesday, snapping a sharp three-session rally, after the Standard & Poor's downgrade of a number of European and U.S. banks.
On Tuesday, the Dow and S&P 500 advanced for a second day on Tuesday as stronger-than-expected consumer confidence data and hopes for further progress on a solution to Europe's fiscal mess bolstered sentiment.
Euro zone ministers agreed to ramp up the firepower of their rescue fund, but couldn't say by how much, and may turn to the IMF for more help as a jump in Italy's borrowing costs pushed the region closer to financial disaster.
The Dow Jones industrial average <.DJI> closed up 32.62 points, or 0.28 percent, at 11,555.63. The Standard & Poor's 500 Index <.SPX> ended up 2.64 points, or 0.22 percent, at 1,195.19. The Nasdaq composite index <.IXIC> closed down 11.83 points, or 0.47 percent, at 2,515.51.
(Reporting by Atul Prakash. Editing by Jane Merriman)