U.S. stock index futures traded lower early Wednesday, following declines overseas and ahead of earnings and amid U.S. data.
European stocks traded more than half a percent lower, while Asian equities ended lower, with the Shanghai composite off only 0.05 percent. Japanese markets remained closed for a holiday.
Dow futures were last off about 104 points, while S&P and Nasdaq futures fell 14 points and 32 points, respectively.
Time Warner and Delphi Automotive reported first quarter results early in the day, with numbers due from Kraft Heinz, Tesla Motors and 21st Century Fox after the markets close.
In Europe, Royal Dutch Shell posted a sharp fall in earnings for the first three months of 2016, in its first earnings report since its purchase of BG Group.
The day is a busy one for economic data, with the ADP employment report for April coming in at 156,000, missing expectations.
The March trade deficit was $40.4 billion. First quarter productivity declined at an annual rate of 1 percent.
Later in the morning data on factory orders and the ISM services index are due.
The U.S. dollar index tried to hold gains, with the euro near $1.15 and the yen at 106.4 yen against the greenback as of 8:38 a.m. ET.
Treasury yields held steady, with the 2-year yield near 0.75 percent and the 10-year yield below 1.8 percent.
In corporate news, according to Reuters, Pfizer has expressed interest in bidding for U.S. cancer drug maker Medivation. This raises the possibility of a bid to rival Sanofi's $52.50 per share cash offer.
Oil edged higher in early morning trade, with WTI crude futures topping $44 a barrel. Weekly EIA oil inventories are due later in the morning. Late Tuesday, the American Petroleum Institute reported U.S. crude stocks rose by 1.3 million barrels.
Weekly mortgage application volume fell 3.4 percent, according to the Mortgage Bankers Association.
Donald Trump took a step closer to being the Republican presidential nominee on Tuesday, with a victory in Indiana's primary. Rival Ted Cruz suspended his campaign following the vote.
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Correction: This story has been updated to reflect the API inventory report was released Tuesday.