U.S. stocks were set to open little changed on Wednesday as investors sorted through company news to find reasons to lift the market further after three days of gains.

Dow component Walt Disney Co fell 3.9 percent to $42.19 in premarket trading a day after its quarterly results missed expectations. Retailer Macy's Inc jumped 8.1 percent to $28.47 after its profit rose more than estimated.

It is a direction-less sort of morning, and investors are starving for information, said Lawrence Creatura, portfolio manager at Federated Investors in Rochester, New York.

Individual events gain disproportionate significance. That's why Disney is so important to the market's move, but its early in the day.

S&P 500 futures dipped 0.6 point and were flat in terms of fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration of the contract. Dow Jones industrial average futures gained 10 points, and Nasdaq 100 futures shed 0.75 point.

American International Group Inc fell 2.3 percent to $28.93 premarket after the insurer and the U.S. Treasury said they will sell nearly $9 billion in AIG stock, less than half of what was contemplated earlier this year.

Some investors are still trying to figure out whether being in a partnership with the U.S. government is a good or bad thing, Creatura said.

Johnson & Johnson rose 1.1 percent to $66.49 premarket after Goldman Sachs raised its rating on the stock to buy from neutral and lifted the price target to $77 from $64.

Intel Corp shares gained 1.1 percent to $23.28 in premarket trade after the chip maker raised its quarterly dividend to 21 cents from 18.1 cents, its second increase in 6 months.

The latest economic report from China showed industrial output growth eased in April, suggesting the world's second-biggest economy is cooling and reducing the need for more monetary policy tightening. But Chinese inflation remains high.

The Chinese inflation numbers are starting to become less of an issue, said Jack de Gan, chief investment officer at Harbor Advisory Corp in Portsmouth, New Hampshire. A lot of the problem with inflation in China is domestic.

In a day thin on U.S. economic indicators, the government said the U.S. trade deficit widened more than expected in March, as exports leapt to a new record but imports rose nearly 5 percent as oil prices jumped.

(Reporting by Rodrigo Campos; editing by Jeffrey Benkoe)

China Investment