NEW YORK (CNN/Money) -
U.S. stocks looked to open lower Wednesday as investors didn't appear quite ready to reaffirm the bullishness in the first half of the trading week.
Early Wednesday, Nasdaq and S&P futures pulled back slightly.
The prospect of lower oil prices help push U.S. stocks up a bit Tuesday. The Dow Jones industrial average rose 0.4 percent, while the Nasdaq composite index was 0.1 percent higher (see chart for details).
Oil continued to ease from the record highs reached last week. U.S. crude futures fell 36 cents to $36.92 a barrel in electronic trading, while Brent oil futures slipped 17 cents to $34.88 a barrel in London. Gold was lower.
Weakness in tech issues helped send Asian-Pacific stocks lower; Tokyo's Nikkei index lost 0.6 percent. European markets were flat to higher in morning trade. (Check the latest on world markets)
Among U.S. stocks trading in Europe, Hewlett-Packard (HPQ: Research, Estimates) was nearly 2 percent higher. CEO Carly Fiorina said Tuesday that her company expects 20 percent annual earnings-per-share growth and sees itself as the main challenger to IBM (IBM: Research, Estimates) in the computer products field.
Treasury prices retreated in early trading, sending the 10-year note yield up to 4.78 percent from 4.76 percent late Tuesday. The dollar strengthened against the euro, but was down versus the yen.
Radio broadcaster Clear Channel Communications (CCU: Research, Estimates) is reportedly close to agreeing to a $1.7 million fine to settle indecency charges involving various shock jock broadcasts, including the Howard Stern show. Clear Channel dropped Stern's show from its stations earlier this year following the annoucement of nearly $500,000 in fines due to his broadcasts.
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For details of Tuesday's gains, click above
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At the other end of the media spectrum, the Wall Street Journal also reports that Comcast (CMCSK: Research, Estimates) is in talks with the Public Broadcasting System, Sesame Street Workshop and HIT Entertainment to create a 24-hour cable channel to carrier commercial-free programming aimed at toddlers.
The latest reading on wholesale inventories is due from the government at 10 a.m. ET Wednesday. Economists surveyed by Briefing.com forecast that inventories were up 0.5 percent in April, following a 0.6 percent rise in March.
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