Investing.com - U.S. stock futures pointed to a mixed to lower open on Wednesday, as investors remained cautious after the Federal Reserve refrained from implementing further stimulus measures at its last policy meeting of the year.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a fall of 0.12%, S&P 500 futures signaled a 0.02% loss, while the Nasdaq 100 futures indicated a 0.35% drop.
The Fed noted on Tuesday modest improvement in the U.S. economy but added that market turbulence in the face of Europe's debt woes posed a big risk. Fed officials also reiterated that short-term interest rates are likely to stay close to zero until mid-2013 at least.
Meanwhile, market sentiment also weakened as the yield on Italian 10-year bonds climbed to 7.17%, a level widely seen as unsustainable, following a government bond auction.
Financial stocks were sharply lower as shares in Goldman Sachs tumbled 3.05% and Bank of America dropped 2.39%, while JP Morgan and Citigroup retreated 2.34% and 1.18% respectively.
According to the Wall Street Journal, U.S. banks are demanding that the new Consumer Financial Protection Bureau give up its right to sue over certain flawed mortgage originations in exchange for their participation in a multibillion-dollar settlement of alleged foreclosure abuses.
Meanwhile, Morgan Stanley was to return about USD700 million to investors in its real-estate mega-fund and slash fees to extend the investment vehicle's life until June 2013.
Elsewhere, Caterpillar shares were down 2.42% as the heavy machinery maker said it would sell a part of its Bucyrus distribution business to the industrial division of Malaysia's Sime Darby for about USD360 million.
Avon Products slumped 2.36% as the company is looking for a new chief executive to replace Andrea Jung, who lost investor confidence after a series of problems, including a federal bribery probe and weak sales in key international markets.
Other stocks in focus included Chrysler as Fiat group expects its U.S. unit’s operating profit to be at USD3 billion in 2012.
Across the Atlantic, European stock markets were sharply higher. The EURO STOXX 50 tumbled 1.30%, France’s CAC 40 plunged 1.74%, Germany's DAX declined 1.07%, while Britain's FTSE 100 dropped 0.92%.
During the Asian trading session, Hong Kong's Hang Seng Index slumped 0.25%, while Japan’s Nikkei 225 Index fell 0.4%.
Later in the day, the U.S. was to produce official data on import prices and crude oil stockpiles.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a fall of 0.12%, S&P 500 futures signaled a 0.02% loss, while the Nasdaq 100 futures indicated a 0.35% drop.
The Fed noted on Tuesday modest improvement in the U.S. economy but added that market turbulence in the face of Europe's debt woes posed a big risk. Fed officials also reiterated that short-term interest rates are likely to stay close to zero until mid-2013 at least.
Meanwhile, market sentiment also weakened as the yield on Italian 10-year bonds climbed to 7.17%, a level widely seen as unsustainable, following a government bond auction.
Financial stocks were sharply lower as shares in Goldman Sachs tumbled 3.05% and Bank of America dropped 2.39%, while JP Morgan and Citigroup retreated 2.34% and 1.18% respectively.
According to the Wall Street Journal, U.S. banks are demanding that the new Consumer Financial Protection Bureau give up its right to sue over certain flawed mortgage originations in exchange for their participation in a multibillion-dollar settlement of alleged foreclosure abuses.
Meanwhile, Morgan Stanley was to return about USD700 million to investors in its real-estate mega-fund and slash fees to extend the investment vehicle's life until June 2013.
Elsewhere, Caterpillar shares were down 2.42% as the heavy machinery maker said it would sell a part of its Bucyrus distribution business to the industrial division of Malaysia's Sime Darby for about USD360 million.
Avon Products slumped 2.36% as the company is looking for a new chief executive to replace Andrea Jung, who lost investor confidence after a series of problems, including a federal bribery probe and weak sales in key international markets.
Other stocks in focus included Chrysler as Fiat group expects its U.S. unit’s operating profit to be at USD3 billion in 2012.
Across the Atlantic, European stock markets were sharply higher. The EURO STOXX 50 tumbled 1.30%, France’s CAC 40 plunged 1.74%, Germany's DAX declined 1.07%, while Britain's FTSE 100 dropped 0.92%.
During the Asian trading session, Hong Kong's Hang Seng Index slumped 0.25%, while Japan’s Nikkei 225 Index fell 0.4%.
Later in the day, the U.S. was to produce official data on import prices and crude oil stockpiles.