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For details of Tuesday's gains, click above.
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NEW YORK (CNN/Money) -
U.S. stocks headed toward a lower opening Wednesday amid continuing concern about a strike in No. 3 oil exporter Norway, but the return of flows through a damaged Iraqi pipeline tempered the fears of a shortage.
About a half hour before the opening bell, Nasdaq and S&P futures were lower.
The six-day walkout by North Sea workers over pension rights and restrictions on temporary workers is expected to expand this weekend. It has cut off about 375,000 barrels of oil a day from the world's No. 3 oil exporter at a time of pricing pressure in the U.S. and China.
The management group negotiating with the union said it was considering ordering a lockout.
Meanwhile, pumping from Iraq's northern oilfields resumed Wednesday, countering the concern about Norway.
U.S. crude futures fell 20 cents to $38.05 a barrel, while Brent oil futures eased 11 cents to $35.50 a barrel in London.
Technology stocks led a market advance Tuesday. The tech-dominated Nasdaq composite index rose 1 percent, while the Dow Jones industrial average -- not so tech-dominated -- was 0.2 percent higher (see chart for details).
Asian-Pacific stocks ended mixed Wednesday, with Tokyo's Nikkei index virtually unchanged. European markets rose in early trading. (Check the latest on world markets)
Among U.S. stocks trading in Europe, Coca-Cola (KO: Research, Estimates) was slightly lower. The soft drink maker named Chuck Fruit as its chief marketing officer, the latest move in an executive shuffling by new CEO Neville Isdell.
Treasury prices rose in early trading, sending the 10-year note yield down to 4.71 percent from 4.72 percent late Tuesday. The dollar weakened against the yen and euro. Gold was higher.
In corporate news, United Airlines parent UAL (UALAQ: Research, Estimates) scaled back its request for federal loan guarantees. The bankrupt airline, which saw a federal panel reject its request for $1.6 billion in guarantees last week, is now seeking $1.1 billion in guarantees, according to sources in the industry.
Freight and package delivery service FedEx reported results early Wednesday. The company posted net income of $412 million, or $1.36 a share, above the $1.25 a share consensus forecast of analysts surveyed by earnings tracker First Call.
Shares of FedEx (FDX: Research, Estimates) gained 45 cents to $78.43 in Tuesday trading.
Wednesday will see the first trading in Salesforce.com, which provides software designed to help companies manage customer relations online. Late Tuesday, Salesforce priced its initial offering of 10 million shares at $11 per share, topping its already raised target range of $9 to $10 per share.
R.J. Reynolds Tobacco Holdings (RJR: Research, Estimates) received clearance for its $3 billion purchase of Brown & Williamson Tobacco Corp. from British American Tobacco (BTI: Research, Estimates) when the Federal Trade Commission said it did not believe that the transaction is likely to substantially lessen competition in the U.S. market for cigarettes.
British American Tobacco shares were up about 6 percent in London trading early Wednesday after the late Tuesday announcement.
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