Stocks set for rocky startMajor gauges poised to open lower, following in the path of losses in Asia, Europe.NEW YORK (CNNMoney.com) -- Stock weakness throughout the world could hit Wall Street when trading begins Wednesday. At 8 a.m. ET, Nasdaq and S&P futures were solidly lower, indicating a lower open for the markets. Markets in Asia ended lower, while Europe was down in midday trade. 
Oil prices fell ahead of the weekly inventory report, due after the market open. U.S. light crude eased 63 cents to $55.01 a barrel in electronic trading. Lower oil prices have weighed on energy majors such as Exxon Mobil (Charts), Valero Energy (Charts), ConocoPhilips (Charts) and Sunoco (Charts). In more merger news, US Airways Group (Charts) raised its raised its takeover offer for Delta Air Lines to $10.2 billion. Eastman Kodak (Charts) said it will sell its Health Group to Onex Healthcare Holdings, a subsidiary of Canadian-based Onex Corp., for about $2.35 billion. CBS (Charts) Chief Executive Leslie Moonves announced several digital media deals at the Consumer Electronics Show on Tuesday. On the earnings front, Dow component Alcoa (Charts) posted surprisingly strong quarterly earnings after the closing bell Tuesday. The aluminum maker's CEO also gave a bullish outlook on 2007. Biotech Genentech (Charts) reports quarterly earnings after the closing bell. In addition to earnings, stock trading on Wednesday will be influenced by the economic reports that are expected, including readings on the November trade balance and wholesale inventories. Treasury prices slipped, with the 10-year note yield rising to 4.67 percent from 4.65 percent late Tuesday. In currency trading, the dollar jumped versus the euro but was weaker versus the yen. ----- |
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