US stock futures pointed to a lower open on Wednesday ahead of the release of a raft of readings on the US economy, while lingering concerns over the financial turmoil in Turkey also weighed on sentiment.
Oil prices nudged lower with global benchmark Brent Crude down 0.66%, while US crude West Texas Intermediate was down 0.97% recently after industry data showed a surprise build in US crude stockpiles.
At 8:30 am, data are expected to show retail sales climbing 0.1% for July vs prior gain of 0.5%. Forecasters see the Empire State general business conditions index coming in at 20.0 in August vs July's 22.6. The consensus for the preliminary estimate of Q2 productivity is a gain of 2.5% vs a 0.4% gain in Q1, according to data compiled by Econoday.
At 9:15 am, industrial production is seen rising 0.3% for July with manufacturing also seen rising 0.3%.
At 10 am, forecasters see a 0.1% build in business inventories for June vs a 0.4% gain in May. Expectations for August's housing market index are another 68 vs 68 in the prior month.
In equities, shares of Canopy Growth (CGC) were 48.9% higher pre-bell after the Canadian cannabis company secured a $3.8 billion investment from drinks maker Constellation Brands (STZ).
