US Stock Futures Down; Bank of America Earnings In Focus

US stock futures are lower this morning, as investors are awaiting earnings from Bank of America BAC. Futures for the Dow Jones Industrial Average tumbled 64 points to 14,623.00 and S&P 500 index futures fell 8.30 points to 1,560.70. Nasdaq 100 futures dropped 17 points to 2,811.75. US stocks closed higher on Tuesday, with the Dow Jones Industrial Average surging 1.08% to 14,756.78, the S&P 500 index rising 1.43% to 1,574.57 and the Nasdaq 100 index gaining 1.50% to 3,264.63. The MBA purchase applications index will be released at 7:00 a.m. ET, while the EIA weekly report on petroleum inventories will be released at 10:30 a.m. ET. The Federal Reserve will release its Beige Book at 2:00 p.m. ET. Yahoo! YHOO reported a drop in its internet advertising revenue during the first quarter. However, the company's earnings beat estimates. Intel INTC reported a 27% drop in its first-quarter profit. Its PC sales declined 14% y/y. Abbott Laboratories ABT is expected to report its Q1 earnings at $0.41 per share on revenue of $5.42 billion. Mattel MAT is estimated to report its Q1 earnings at $0.09 per share on revenue of $985.79 million. eBay EBAY is expected to post its Q1 earnings at $0.62 per share on revenue of $3.77 billion. Huntington Bancshares HBAN is expected to report its Q1 earnings at $0.16 per share on revenue of $696.15 million. Bank of America BAC is projected to report its Q1 earnings at $0.22 per share on revenue of $23.49 billion. Textron TXT is expected to report its Q1 earnings at $0.46 per share on revenue of $2.89 billion. SanDisk SNDK is projected to post its Q1 earnings at $0.77 per share on revenue of $1.30 billion. ASML Holding NV ASML is estimated to report its Q1 earnings at $0.49 per share on revenue of $1.27 billion. Quest Diagnostics DGX is expected to report its Q1 earnings at $1.03 per share on revenue of $1.86 billion. Dover DOV is projected to report its Q1 earnings at $1.08 per share on revenue of $2.07 billion. St. Jude Medical STJ is expected to report its Q1 earnings at $0.91 per share on revenue of $1.36 billion. Noble NE is estimated to post its Q1 earnings at $0.56 per share on revenue of $987.18 million. European markets were lower today. The STOXX Europe 600 Index fell 0.85%, London's FTSE 100 Index dropped 0.52%, French CAC 40 Index declined 1.06% and German DAX 30 index fell 1.21%. Asian markets ended mostly lower, with Japan's Nikkei Stock Average rising 1.22%, China's Shanghai Composite falling 0.05% and Australia's S&P/ASX 200 gaining 1%. Hong Kong's Hang Seng fell 0.47% and India's Sensex declined 0.07%. Gold for June delivery dropped 0.25% to trade at $1,384.00 an ounce.