Investing.com - U.S. stock markets pointed to a lower open on Wednesday morning, as investors looked ahead to more blue-chip earnings from the likes of Boeing (NYSE:BA) and Coca-Cola Company (NYSE:KO) before the market open.
The blue-chip Dow futures shed 80 points, or 0.44%, by 6:50AM ET (10:50GMT), the S&P 500 futures declined 9 points, or 0.41%, while the tech-heavy Nasdaq 100 futures slumped 27 points, or 0.56%.
Besides Boeing and Coca Cola, earnings expected Wednesday morning include Comcast (NASDAQ:CMCSA), Norfolk Southern (NYSE:NSC), Northrop Grumman (NYSE:NOC), GlaxoSmithKline (NYSE:GSK), Bayer (DE:BAYGN), Ingersoll-Rand (NYSE:IR), Nasdaq (NASDAQ:NDAQ), State Street (NYSE:STT) and Southwest Airlines (NYSE:LUV).
Tesla (NASDAQ:TSLA), Texas Instruments (NASDAQ:TXN), F5 Networks (NASDAQ:FFIV), VMware (NYSE:VMW), Shutterfly (NASDAQ:SFLY), Raymond James Financial (NYSE:RJF), Buffalo Wild Wings (NASDAQ:BWLD), Groupon (NASDAQ:GRPN), Samsung (KS:005930) Electronics (OTC:SSNLF) and dozens of others report after the closing bell.
On the data front, the U.S. will release international trade data at 8:30AM ET (12:30GMT), services PMI at 9:45AM ET (13:45GMT) and new home sales at 10:00AM ET (14:00GMT).
Traders also awaited fresh weekly information on U.S. stockpiles of crude and refined products. The U.S. Energy Information Administration will release its weekly report on oil supplies at 10:30AM ET (14:30GMT), amid analyst expectations for an increase of 1.69 million barrels.
After markets closed Tuesday, the American Petroleum Institute said that U.S. oil inventories increased by 4.8 million barrels in the week ended October 21.
U.S. crude was down 64 cents, or 1.3%, at a three-week low of $49.32 a barrel, while Brent slumped 60 cents, or 1.2%, to $50.18 a barrel.
Among active pre-market mover, Apple (NASDAQ:AAPL) was down around 3% after reporting its third successive quarter of declining iPhone sales and forecast slimmer-than-expected profit margins over the upcoming holiday season.
Pandora Media (NYSE:P) tumbled almost 9% after the streaming giant missed expectations on its quarterly results late Tuesday.
Chipotle Mexican Grill (NYSE:CMG) was also under pressure after the burrito chain reported earnings of 27 cents per share on revenue of $1.04 billion in revenue, falling short of revenue forecasts.