Investing.com - U.S. stock futures pointed to a lower open on Wednesday, as oil prices pulled back from recent highs and as investors digested a big night in U.S. politics.
The blue-chip Dow futures shed 38 points, or 0.22%, by 11:55GMT, or 6:55AM ET, the S&P 500 futures dipped 5 points, or 0.23%, while the tech-heavy Nasdaq 100 futures declined 7 points, or 0.15%.
Wall Street stocks rallied sharply on Tuesday, as upbeat economic data and a nearly 2% gain for oil prices gave investors an appetite for riskier assets such as bank and technology stocks.
Oil prices were lower in early action on Wednesday after industry data showed a huge build in U.S. crude stockpiles that were already at record highs. U.S. crude was down 70 cents, or 2.03%, at $33.70 a barrel, while Brent shed 35 cents, or 0.95%, to $36.46.
The U.S. Energy Information Administration will release its weekly report on oil supplies at 15:30GMT, or 10:30AM ET, amid expectations for a gain of 3.6 million barrels.
Meanwhile, Republican Donald Trump and Democrat Hillary Clinton took big steps toward securing their parties' presidential nominations with a series of victories on Super Tuesday.
Among the dozen states where voting took place, Trump took home seven wins stretching into the deep South and as far north as Massachusetts, while Clinton also scored wins in seven states.
The idea of Trump in the White House is a worrying one for some investors who balk at his populist, unpredictable style.
On the data front, the U.S. was to release the ADP employment report for February at 13:15GMT, or 8:15AM ET, amid expectations for a gain of 190,000 jobs.
There is also the Fed's Beige Book on the economy at 2:00PM ET, while John Williams, president of the San Francisco Federal Reserve, will speak at an event in San Roman, California at 10:00AM ET.
Among active pre-market movers, shares of Chesapeake Energy (NYSE:CHK) lost almost 4% ahead of the bell after former chief executive officer, Aubrey McClendon, was indicted on charges of conspiring to rig bids for the purchase of oil and natural gas leases.
On the upside, Zynga Inc (NASDAQ:ZNGA) popped 7% higher after the online gaming company announced a new CEO.
In earnings news, clothing retailers Abercrombie & Fitch Company (NYSE:ANF) and American Eagle Outfitters Inc (NYSE:AEO) will report results ahead of the opening bell.
Elsewhere, European and Asian stocks were mostly higher Wednesday as investors hoped for further stimulus measures from central banks in Europe and China.