Stock Futures Fall Amid Alphabet, AMD Declines; Asia, Europe Churn

The main US stock measures were trending downwards in Wednesday's premarket activity as traders digest the latest quarterly results of Alphabet and Advanced Micro Devices .

Standard & Poor's 500 declined 0.5%, the Dow Jones Industrial Average edged down 0.1% and the Nasdaq fell 0.9% before the opening bell. Asian exchanges and European bourses were mixed to lower.

Alphabet's shares dropped 6.6% pre-bell as the Google parent company's fourth-quarter revenue fell short of market estimates. AMD fell 8.9% as the chipmaker forecast a sequential decline in first-quarter revenue. Chipotle Mexican Grill slid 5.9% as the burrito chain reported its fourth-quarter results.

Novo Nordisk's US-listed stock increased 3.8% before the opening bell as the Danish pharmaceutical company reported its latest quarterly results. Apple was down 2.7% following media reports that the technology giant may face an antitrust probe by China's State Administration for Market Regulation over its app store fees and practices.

Walt Disney , Boston Scientific , Uber Technologies , Fiserv , Emerson Electric , Johnson Controls International , Performance Food Group , New York Times , Harley-Davidson and Capri report their latest financial results early Wednesday, among others.

Qualcomm , Arm , McKesson (MCK), O'Reilly Automotive and MicroStrategy are scheduled to post earnings after the markets close.

On the economic calendar, the weekly mortgage applications bulletin is out at 7 am ET, followed by the ADP Employment report for January at 8:15 am. The international trade in goods and services report for December posts at 8:30 am.

The January purchasing managers' index composite final report from S&P Global (SPGI) is due at 9:45 am, while the Institute for Supply Management's services index for the same month follows at 10 am. The weekly EIA domestic petroleum inventories report posts at 10:30 am.

Federal Reserve Bank of Richmond President Thomas Barkin is scheduled to speak at 9 am, while Chicago Fed President Austan Goolsbee speaks at 2:30 pm. Federal Reserve Governor Michelle Bowman is slated to speak at 3 pm, while Fed Vice Chair Philip Jefferson speaks at 7:30 pm.

In premarket action, bitcoin moved down 0.5% to $98,227, West Texas Intermediate crude oil decreased 1.2% to $71.82 a barrel, yields on 10-year Treasuries retreated 3.3 basis points to 4.48% and gold rose 0.7% to $2,895 an ounce.