U.S. Stock Futures Slip

Morningstar

U.S. stock futures were trading mildlly lower amid downbeat overseas trade, hinting a weak open for Wall Street on Wednesday.

Futures on the S&P 500 index eased 2.00 points to 1863.25 points while those on the Nasdaq index erased 4.00 points to 3684.50 points.

With no major economic data coming out today, market sentiment would likely be guided by global cues. Earlier in the day, Asian equities posted sharp losses and European bourses also retreated in lockstep amid lingering concerns over economic growth in China and ongoing geopollitical tensions arising due to the Russia-Ukraine standoff.

Data released over the weekend showed Chinese exports declined 18.1% in February even as inflation stood pat.

Investors were also worried about developments in Ukraine after Russia said it would recognise the results of a referendum in Crimea, which is scheduled on Sunday amid tight security in the capital city of Simferopol.

Crimeans would be voting either to remain an autonomous state within Ukraine or to join the Russian Federation.

However, Ukraine's interim government, the United States as well as Europe has called it illegitimate.

Back home, on the corporate front, Verifone Systems Inc. (PAY) reported quarterly earnings and full-year outlook that beat Street estimates. Shares of the company jumped over 12% in extended hours session.

Diamond Foods Inc. (DMND) bounced nearly 6% in after-hours trading after posting upbeat results.

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