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Stock futures little changed amid earnings rush


Traders work on the floor of the New York Stock Exchange (NYSE) shortly after the opening bell in New York, U.S., February 6, 2017.  REUTERS/Lucas Jackson

Traders work on the floor of the New York Stock Exchange (NYSE) shortly after the opening bell in New York, U.S., February 6, 2017.

U.S. stock index futures were little changed on Wednesday as investors focused on quarterly earnings, a day after the Dow Jones Industrial Average and the Nasdaq hit record highs.
More than half of the S&P 500 companies have reported results so far, with their combined earnings estimated to have risen 8.2 percent - the most in nine quarters.
Key companies scheduled to report results on Wednesday include Goodyear Tire (GT.O), life insurer Prudential Financial (PRU.N) and grocer Whole Foods (WFM.O).
The dollar edged up 0.3 percent, but gold rose to a three-month high as political uncertainty ahead of European elections kept the safe-haven asset in favor.
Oil prices fell 0.3 percent, extending losses to the third day as an increase in U.S. crude inventories and a slump in Chinese demand implied that global oil markets remain oversupplied despite OPEC-led efforts to cut output. [O/R]
Among stocks, Gilead (GILD.O) dropped 6.7 percent to $68.25 premarket after the drugmaker projected disappointing sales for its hepatitis C drugs this year.
Cognizant (CTSH.O) slipped 1.4 percent to $53.05 in light trading. The IT services provider named three directors to its board, bowing to pressure from activist shareholder Elliott Management.
Oreo cookie maker Mondelez (MDLZ.O) was down 2.1 percent at $43 following a quarterly sales and profit miss.
No key economic report is scheduled for the day.
Futures snapshot at 6:49 a.m. ET:
Dow e-minis 1YMc1 were up 13 points, or 0.06 percent, with 17,196 contracts changing hands.
S&P 500 e-minis ESc1 remained unchanged, with 83,224 contracts traded.
Nasdaq 100 e-minis NQc1 were up 4.25 points, or 0.08 percent, on volume of 16,883 contracts.

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