U.S. futures steady ahead of GDP report; Dow Jones down 0.06%

Investing.com - U.S. stock futures pointed to a steady open on Wednesday, as investors eyed the release of U.S. gross domestic product data later in the day, as well as a speech by Federal Reserve Chairman Ben Bernanke on Friday.

Ahead of the open, the Dow Jones Industrial Average futures pointed to a 0.06% loss, S&P 500 futures signaled a 0.06% fall, while the Nasdaq 100 futures indicated a 0.05% dip.

Market participants were looking ahead to a speech by Fed Chairman Ben Bernanke at an annual symposium in Jackson Hole, Wyoming, on Friday, amid ongoing speculation over how close the U.S. central bank is to implementing more stimulus measures.

The European Central Bank said on Tuesday that its president Mario Draghi would be unable to attend the summit, due to his "heavy workload" in the next few days.

Energy stocks were expected to be active, after an injunction banning number 2 U.S. oil company Chevron and its drilling contractor Transocean from operating in Brazil was upheld by a panel of three Brazilian federal judges on Tuesday, while charges over a November oil spill are being considered.

The auto sector was also likely to be in focus, as General Motors is reportedly planning to invest USD1 billion over the next five years to expand car and component production in Russia, one of the fastest-growing auto markets in the world.

Separately, Ford CEO Alan Mulally was scheduled to speak at a groundbreaking for a Ford plant in Hangzhou, China, in which the company poured USD760 million with hopes of doubling production capacity in the country by 2015.

In the tech sector, Apple shares edged up 0.06% in pre-market trade. On Tuesday, a U.S. judge set a December 6 court date to hear the iPhone maker’s request for a permanent injunction against Samsung Electronics' smartphones.

Also in company news, Angela Braly resigned as chairman and CEO of Indianapolis-based health insurer WellPoint, sending shares up 3.31% in after-hour trade. John Cannon will serve as interim president and CEO, while the company looks for a permanent replacement.

Elsewhere, Morgan Stanley and Citigroup agreed to give an arbitrator additional time to evaluate the price tag for their Morgan Stanley Smith Barney brokerage joint venture, according to a Reuters report.

Other stocks in focus included H.J. Heinz, Pandora and TiVo, due to release earnings reports later in the day.

Across the Atlantic, European stock markets were lower. The EURO STOXX 50 dropped 0.52%, France’s CAC 40 declined 0.61%, Germany's DAX retreated 0.47%, while Britain's FTSE 100 slumped 0.50%.

During the Asian trading session, Hong Kong's Hang Seng Index fell 0.12%, while Japan’s Nikkei 225 Index rose 0.4%.

Later in the day, the U.S. was to produce revised data on second quarter gross domestic product, followed by an industry report on pending home sales.

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