(By Balachander) U.S. stock index futures pointed to flat open on the Wall Street ahead of pending homes sales report as investors also weighed a two-day European Union summit that starts on Thursday.
Mini Dow Industrial Average futures inched up 5.00 points to 12,491.00. The Nasdaq Futures rose 2.25 points to 2,550.50. Standard and Poor's 500 futures edged 2.00 points higher to 1,317.50.
On the US economic front, durable-goods orders for May rose 1.1 percent following declines for two consecutive months, coming in better than economists expectations of a 0.4 percent rise. New orders - excluding transportation - increased 0.4 percent, yet trailed expectations of a 0.7 percent rise.
Meanwhile, pending home sales for May is due at 10 am ET, with expectations of a 1.0 percent rise following a 5.5 percent drop in April.
In other news, Europe's leaders are due to meet on Thursday to address the region's debt woes.
On Tuesday, U.S. stocks closed on a higher note as an encouraging domestic data on home prices offset concerns over debt crisis in Europe.
Hot Stocks Of The Day: BBY, MON, GIS, BMY, LEN, MKC, HRB
In corporate news, Best Buy Co. Inc. (NYSE:BBY) edged 0.46 percent lower in premarket. Media reported that that the consumer electronics retailer's founder, Richard Schulze, is exploring a potential private takeover of the company.
Monsanto Co. (NYSE:MON) added 1.49 percent in premarket after the St. Louis, Missouri-based seed-and-traits company posted stronger-than-forecast third-quarter earnings on a 17 percent jump in net sales.
General Mills Inc. (NYSE:GIS) may be in focus after the Minneapolis, Minnesota-based maker of branded consumer foods guided fiscal 2013 below market expectations after reporting higher quarterly profit as double-digit growth in sales offset drop in gross margins.
Bristol Myers Squibb Co. (NYSE:BMY) announced a $3 billion share buyback plan in addition to the $3 billion stock repurchase program announced earlier.
Lennar Corp. (NYSE:LEN) gained 4.05 percent in premarket after the Miami, Florida-based homebuilder reported a jump in second quarter earnings that also topped Wall Street expectations.
McCormick & Co. (NYSE:MKC) may be in spotlight after the spice maker posted a 9 percent increase in earnings for the second quarter helped by double-digit growth in sales and the Sparks, Maryland-based company backed its forecast for the full year.
H&R Block Inc. (NYSE:HRB) edged lower in premarket. The tax service provider reported a decline in fourth quarter earnings and revenue, trailing market expectations.
European markets rose, with Germany's DAX adding 0.49 percent to trade at 6,166.73. France's CAC40 gained 0.63 percent to trade at 3,031.62. U.K.'s FTSE 100 advanced 0.63 percent to trade at 5,481.22.
Among Asian markets, China's Shanghai Stock Exchange Composite Index dropped 0.24 percent to trade at 2,216.82. Hong Kong's Hang Seng added 1.03 percent to close at 19,176.95. Japan's Nikkei 225 rose 0.77 percent to end at 8,730.49. India's BSE Sensex finished at 16,967.76, up 0.36 percent.
Ahead of the opening bell, crude oil futures rose 0.32 percent to $79.610 per barrel. Gold futures fell 0.09 percent to $1,568.2 per ounce.
In the currency market, the euro traded 0.07 percent lower against the U.S. dollar at 1.2483, and the British pound shed 0.33 percent against the greenback at 1.5591. The dollar added 0.16 percent against the Japanese yen at 79.6500.