Stock index futures fell on Wednesday, taking a cue from a decline in global markets, as investors found little reason to propel stocks higher as the market's solid year draws to a close.
Airline stocks could see interest after Japan Airlines Corp (9205.T) tumbled as much as 32 percent to a record low on growing expectations the struggling carrier will be restructured in bankruptcy court. American Airlines (AMR.N) and Delta Air Lines (DAL.N) have been courting JAL with rival offers of financial aid.
Shares in financial institutions could be in the spotlight after the Wall Street Journal reported that GMAC Financial Services is close to getting about $3.5 billion in additional government aid on top of the $12.5 billion it has received since December 2008.
Pfizer Inc (PFE.N) may be in focus after the drugmaker said Tuesday it ended a late-stage lung cancer study for its experimental drug figitumumab.
On the data front, the Institute for Supply Management-Chicago's business barometer for the U.S. Midwest will be released at 9:45 a.m. EST (1445 GMT). Economists expect a December reading of 55 compared to 56.1 the month before, according to Reuters data.
S&P 500 futures fell 5.7 points and were below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures lost 50 points, and the Nasdaq 100 futures gave up 7.75 points.
Broadcom Corp (BRCM.O) said late Tuesday it will pay $160.5 million in cash to resolve an investor lawsuit over improperly backdated stock options.
Overseas, European shares slipped in thin trading Wednesday, while Tokyo's Nikkei (.N225) dropped nearly 1 percent in its last trading session of the year. The Nikkei booked a 19 percent gain for 2009, and the pan-European FTSEurofirst 300 (.FTEU3) was on track for a 26 percent advance for the year.
U.S. stocks broke a six-day winning streak on Tuesday, closing slightly lower on low volume. Action is expected to be muted through the shortened week, with investors cooling their heels after a nearly 25 percent run-up for the S&P 500 this year.
