Investing.com - U.S. stock futures pointed to steady open on Wednesday, as investors awaited the release of fourth quarter earnings reports, while disappointing German data added fresh concerns to the euro zone's debt crisis.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a 0.09% rise, S&P 500 futures signaled a 0.01% gain, while the Nasdaq 100 futures indicated a 0.04% dip.
Markets were jittery after official data showed that industrial production inched up by a seasonally adjusted 0.2% in November, compared to expectations for a 1% increase.
Separately, the European Central Bank was widely expected to hold off cutting rates following Thursday’s policy meeting, but some market participants expected the bank to flag the possibility of rate cuts later in the year.
Investors also remained cautious amid concerns about continuing political wrangling in Washington over further budget cuts and raising the U.S. debt ceiling.
Alcoa surged 2.64% in pre-market trade, after the U.S. aluminum producer kicked off earnings season on Tuesday by saying it swung to a fourth-quarter profit and expects global aluminum demand to grow 7% in 2013, compared with 6% in 2012.
Tech stocks were expected to be active, following reports Microsoft has sold 60 million licenses and upgrades for its new Windows 8 operating system in the 10 weeks since its launch, sending shares up 0.38% in late trading.
In addition, Apple rose 0.23% pre-market, after the Wall Street Journal reported that the tech giant is working on a lower-end iPhone.
Financial stocks were also likely to be in focus, as Goldman Sachs and Morgan Stanley were said to be among a group of banks expected to agree as soon as this week to a USD1.5 billion settlement with federal regulators over botched foreclosure claims. Shares in Goldman Sachs were up 0.30% after hours, while Morgan Stanley climbed 0.41%.
In the insurance sector, American International Group added 0.20% in late trading after the group said on Tuesday it is considering joining a lawsuit that claims the bailout terms were unfair, drawing accusations from lawmakers.
Across the Atlantic, European stock markets were steady to higher. The EURO STOXX 50 edged up 0.08%, France’s CAC 40 eased up 0.05%, Germany's DAX inched 0.04% higher, while Britain's FTSE 100 rose 0.38%.
During the Asian trading session, Hong Kong's Hang Seng Index climbed 0.46%, while Japan’s Nikkei 225 Index advanced 0.67%.
Later in the day, the U.S. was to produce data on crude oil stockpiles.