Stock futures edged lower on Wednesday as investors awaited a key inflation report scheduled for later in the week.
Futures linked to the Dow Jones Industrial Average declined by 119 points, or 0.3%. S&P 500 futures also retreated by 0.3%, while Nasdaq 100 futures dropped by 0.5%.
eBay, an online marketplace, saw a more than 3% increase in its stock price after announcing a rise in its quarterly dividend and plans to allocate an additional $2 billion towards share repurchases. Conversely, Urban Outfitters experienced a 10% decline following weaker-than-expected fourth-quarter results.
The previous session on Wall Street was mixed, with the S&P 500 and Nasdaq Composite registering slight gains while the Dow recorded a decrease.
Although the S&P 500 and Dow have pulled back from recent highs, investors may want to exercise caution before aggressively increasing their equity positions.
Source (CNBC)
