US stock futures lower on earnings, ahead of Fed

US stock futures lower as investors assess corporate earnings and await news from the Fed

Associated Press
Stocks drop as earnings disappoint; Fed upcoming
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FILE - In this Tuesday, Jan. 28, 2014, file photo, traders work in their booth on the floor of the New York Stock Exchange. Global stock markets rose Wednesday Jan. 29, 2014 as jitters about emerging economies were soothed by the Turkish central bank's aggressive interest rate hike to stabilize its currency and China's infusion of funds into its banking system. (AP Photo/Richard Drew, File)

NEW YORK (AP) -- U.S. stock futures were lower Wednesday as investors assessed the latest company earnings reports and awaited news from the Federal Reserve, which wraps up its two-day policy meeting later in the day.

KEEPING SCORE: Dow Jones industrial average futures are down 135 points to 15,741 before the opening bell. Standard & Poor's 500 index futures are down 14 points to 1,774. Nasdaq futures are down 29 points to 3,471.

NOT GOOGLE: Yahoo's stock fell $1.87, or 4.9 percent, to $36.35 in premarket trading after the company reported a drop in fourth-quarter revenue late Tuesday that disappointed investors. The internet company reported a 6 percent decline in quarterly revenue, the same rate of decline experienced for all of 2013.

PLANE DISAPPOINTEMENT: Boeing fell $5.24, or 3.8 percent, to $131.87 in premarket trading, after the plane maker said that 2014 revenue and profit would be lower than analysts have been expecting.

TREASURYS AND COMMODITIES: Bonds rose. The yield on the 10-year Treasury note fell to 2.72 percent from 2.75 percent on Tuesday. The price of oil fell 44 cents to $96.99 a barrel. Gold rose $16.40, or 1.3 percent, to $1,267 an ounce.

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