(By Balachander) U.S. stock index futures point to a modestly lower open on the Wall Street amid lingering concerns over Europe's debt crisis and weak domestic sales report.
Mini Dow Industrial Average futures shed 34 points to 12,480.00. The Nasdaq Futures dipped 7.5 points to 2,537.50. Standard and Poor's 500 futures edged 5.6 points lower to 1,314.50.
On the US economic front, the Commerce Department reported retail sales dropped for the second straight month to 0.2 percent in May, in line with economists expectations. April retail sales were revised to a 0.2 percent fall from 0.1 percent rise. Meanwhile, the U.S. Labor Department said core producer price index in May rose 0.2 percent, matching economists expectations. However, the headline index declined 1.0 percent.
In the European news, eurozone industrial production declined 0.8 percent in April following a 0.1 percent fall in March, according to a report from Eurostat. Economists had expected a sharper decrease.
On Tuesday, U.S. stocks ended on a sharply higher note amid hopes that Federal Reserve will act to stimulate the economy, overshadowing worries over Europe.
Hot Stocks Of The Day: DELL, SMG, PM, JNJ, CASY, END, FSLR
Dell Inc. (NASDAQ: DELL) rose 2.51 percent in premarket after the Round Rock, Texas-based personal-computer maker announced it will start paying dividends from its third quarter.
Scotts Miracle-Go (NYSE: SMG) retreated 16.38 percent in premarket after the Marysville, Ohio-based maker of lawn and garden care products warned of shortfall in 2012 earnings and sales, citing slowing consumer demand.
Philip Morris International Inc. (NYSE:PM) added 1.16 percent in premarket after the New York-based tobacco giant announced repurchase of $18 billion in stock over the next three years.
Johnson & Johnson (NYSE:JNJ) gained 2.09 percent in premarket after U.S. regulators approved the health-care products company's acquisition of Synthes Inc.
Casey's General Stores Inc. (NASDAQ:CASY) slumped 6.33 percent in premarket following its quarterly report. The operator of convenience stores based in Ankeny, Iowa posted fourth-quarter earnings that missed Wall Street projections.
Endeavour International Corp. (NYSE:END) tumbled 7.65 percent in premarket after the Houston, Texas-based oil and gas explorer announced an offer public offering of shares to fund its current development operations.
First Solar Inc. (NASDAQ:FSLR) added 3.14 percent in premarket after the Tempe, Arizona-based maker of photovoltaic solar power systems announced it has been chosen to construct two utility-scale projects in Australia.
European markets fell amid persisting worries over the region's debt crisis, with Germany's DAX losing 0.53 percent to trade at 6,128.62. France's CAC40 fell 0.48 percent to 3,032.34. U.K.'s FTSE 100 shed 0.18 percent to trade at 5,463.96.
Among Asian markets, the Shanghai Composite Index gained 1.30 percent to end at 2,319.58. Hong Kong's Hang Seng rose 0.82 percent to close at 10,026.52. Japan's Nikkei 225 advanced 0.60 percent to close at 8,587.84. India's BSE Sensex finished at 16,880.51, up 0.11 percent.
Ahead of the opening bell, crude oil futures dropped 0.53 percent to $82.880 per barrel. Gold futures added 0.61 percent to $1,623.7 per ounce.
In the currency market, the euro traded 0.27 percent higher against the U.S. dollar at 1.2538, while the British pound slipped 0.17 percent against the greenback to 1.5544. The dollar edged 0.06 percent lower against the Japanese yen to 79.4800.