Stock index futures pointed to a weak start for Wall Street on Wednesday, following a late sell-off in the previous session, with futures for the S&P 500, for the Dow Jones industrial average and the Nasdaq down 0.1 to 0.3 percent by 5:06 a.m. EDT.
Equities on Wall Street slipped in light volume on Tuesday on growing concerns over slower economic growth and worries about the euro zone debt crisis.
The S&P 500 closed at its lowest level in over a month and ended below its 50-day moving average for a second straight day.
Recent weak economic data, including soft manufacturing data from the Atlantic region and disappointing New York and Philadelphia Fed manufacturing surveys, pointed to a slowdown in the pace of economic growth.
Investors are likely to look for further evidence when U.S. durable goods orders for April is released at 8:30 a.m. EDT.
Durable goods orders are expected to have dropped 2.2 percent in April, a sharp correction from the gain of 4.1 percent the month before weighed down by weak aircraft orders.
Other data due includes home price numbers due at 10 a.m. EDT.
On the earnings front, Costco Wholesale Corp
Other quarterly earnings set for release include Computer Sciences Corp
The U.S. Treasury made a small profit when it sold a portion of its shares in American International Group Inc
U.S. regulators launched one of the biggest ever crackdowns on oil price manipulation on Tuesday, suing two well-known traders and two trading firms owned by Norwegian billionaire John Fredriksen for allegedly making $50 million by squeezing markets in 2008.
Chrysler on Tuesday paid back $7.6 billion in U.S. and Canadian government loans from its 2009 bailout, a move that allows the U.S. automaker to distance itself from an unpopular bailout and deepen its ties with Fiat
On the economic front, the OECD said global economic recovery is on track, helped by a stronger United States, but threats ranging from high oil prices to European sovereign debt crises could yet combine to create a bout of stagflation.
France's finance minister is set to declare on Wednesday she wants to be the next head of the IMF even though big emerging economies have decried Europe's obsolete grip on the top job.
In Europe, the pan-European FTSEurofirst 300 <.FTEU3> index of top shares edged up 0.1 percent, rebounding from falls at the open, investors bought beaten-down banking stocks.
(Editing by Louise Heavens)