U.S. stock futures pointed to a lower open Wednesday as oil prices dropped, putting the S&P 500 on track to end a two-day advance. Ahead of the opening bell, investors are waiting to get a March reading on existing home sales and earnings reports from Coca-Cola Co. and supermarket operator Supervalu Inc. S&P 500 futures fell 4.95 points, or 0.2%, to 2,088.75, while Dow Jones Industrial Average futures shed 32 points, or 0.2%, to 17,929. Nasdaq-100 futures lost 9 points, or 0.2%, to 4,517.75. The recent rally for riskier assets has “fatigued,” RBC foreign exchange analysts said in a note Wednesday. “Oil led the way after the Kuwait oil workers union decided to cancel their strike, prompting crude to fall ~$1/bbl, with other risk assets following suit.” On Tuesday, the S&P and Dow both closed up 0.3%, leaving the two stock gauges just 1.4% below their all-time highs hit last May.
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