US Stock Futures Flat; Inflation Data In Focus

US stock futures are flat this morning, as investors are awaiting inflation data. Futures for the Dow Jones Industrial Average gained 1 point to 11,388.00 and S&P 500 index futures rose 0.50 points to 1,192.80. Nasdaq 100 futures dropped 6.00 points to 2,193.00.

US stocks closed lower on Tuesday, with the Dow Jones Industrial Average dropping 0.67% to 11,405.93, the S&P 500 index declining 0.97% to 1,192.76 and the Nasdaq 100 index dipping 1.24% to 2,523.45.

The Labor Department is scheduled to release data on the July producer price index at 8:30 a.m. ET.

Limited Brands Inc (NYSE: LTD) is expected to report its Q2 EPS at $0.46 on revenue of $2.44 billion. Staples Inc (NASDAQ: SPLS) is projected to report its Q2 EPS at $0.20 on revenue of $5.65 billion. Deere & Company (NYSE: DE) is estimated to report its FQ3 EPS at $1.67 on revenue of $7.50 billion.

PetSmart Inc (NASDAQ: PETM) is projected to report its Q2 EPS at $0.51 on revenue of $1.48 billion. Hot Topic Inc (NASDAQ: HOTT) is estimated to post a Q2 loss at $0.08 per share on revenue of $147.98 million. BJ's Wholesale Club Inc (NYSE: BJ) is expected to report its Q2 EPS at $0.77 on revenue of $3.00 billion.

Target Corporation (NYSE: TGT) is projected to report its Q2 EPS at $0.97 on revenue of $16.17 billion. Abercrombie & Fitch Company (NYSE: ANF) is estimated to report its Q2 earnings at $0.29 per share on revenue of $882.62 million.

Dell Inc (NASDAQ: DELL) reported upbeat quarterly profit and lowered its full-year sales forecast. Dell reported its Q2 net income at $890 million, or $0.48 per share, up from $545 million, or $0.28 per share, in the year-ago period. Its revenue climbed to $15.66 billion, from $15.53 billion. Dell's adjusted income came in at $0.54 per share. However, analysts were expecting earnings of $0.49 per share on revenue of $15.75 billion.

Analog Devices Inc (NYSE: ADI) reported weaker-than-expected third-quarter results and issued downbeat fourth-quarter forecast. Analog's quarterly net income surged to $219.9 million, or $0.71 per share, from $199.5 million, or $0.65 per share, in the year-ago period. Its revenue rose 5% y/y to $757.9 million from $720.3 million. However, analysts were expecting earnings of $0.73 per share on revenue of $780 million.

According to the U.K. Office for National Statistics, the number of British workers claiming unemployment benefits surged 37,100 in July.

European markets were lower today. The STOXX Europe 600 Index dropped 0.58%, London's FTSE 100 Index moved down 0.63%, French CAC 40 index rose 0.08% and German DAX 30 index dropped 1.22%.

Asian markets ended mixed, with Japan's Nikkei Stock Average dropping 0.5509%, Australia's S&P/ASX 200 moving up 1.26% and China's Shanghai Composite dropping 0.26%. Hong Kong's Hang Seng Index rose 0.3807% and India's Sensex gained 0.74%.

Nymex oil futures gained $1.11 in electronic trade to trade at $87.76 a barrel. However, gold futures climbed $10.40 to trade at $1,795.40 an ounce.

The dollar dropped 0.34% against the Japanese yen to trade at ¥76.55. The euro gained 0.19% versus the greenback to trade at $1.4435.