US futures edge lower

New York - US stock index futures were little changed on Wednesday, as investors looked to the next round of earnings reports for direction in a stock market that has been unable to find its footing after rallying about 30 percent last year.

The US bourse is set to open higher as European leaders get ready to meet. Credit: REUTERS

About eight companies have issued negative outlooks for every positive one, which would mark the lowest ratio on record should it continue.

Of the 61 companies in the benchmark S&P index that have reported so far, about 56 percent topped analyst expectations, below the long-term average of 63 percent.

About 71 percent have topped revenue forecasts, above the long-term average of 61 percent.

Dow Jones industrial average futures lost 40 points and Nasdaq 100 futures dipped 0.5 point.

A total of 26 S&P 500 companies are scheduled to report earnings on Wednesday.