US pre-open: Stock futures fall on lack of drivers

US stocks were expected to open lower on Wednesday amid a lack of catalysts.

Dow Jones Industrial Average futures fell 55 points to 17,798, S&P 500 futures dipped 5.35 points to 2,072.25 and Nasdaq futures shed 11.50 points to 4,380.50.

“The US index had managed to climb back above 17900 during Tuesday’s session, but with nothing on its economic agenda the Dow may struggle to hit that level this Wednesday,” said Connor Campbell, financial analyst at Spreadex.

Oil prices rebounded from earlier lows as Canadian oil sand production restarted following forced closures due to wildfires.

West Texas Intermediate crude rose 0.37% to $44.83 per barrel and Brent increased 1.0% to $45.98 per barrel at 1221 BST.

A report on weekly US crude inventories at 1530 BST from the Department of Energy will be closely scrutinised amid worries about an oil supply glut.

On the company front, Walt Disney fell in pre-market trade after reporting quarterly profit and revenue that missed analysts’ estimates for the first time in five years.

“The box office hits have not proved enough to offset weaker results from its theme parks and cable TV business,” said Jasper Lawler, market analyst at CMC Markets.

Electronic Arts edged higher as the maker of video games posted quarterly results that beat forecasts.

Department store Macy’s slid ahead of reporting its first quarter earnings.