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Market Hustle: Stocks Set for Lower Open After IBM Falters

NEW YORK (TheStreet) -- Stock futures were pointing to a flat open Wednesday after disappointing quarterly results from IBM (IBM) continued a spate of lackluster earnings.

 
Shares in IBM, the world's largest computer services provider, were 3.6% lower in premarket trading after the Armonk, New York-based company's earnings outlook and quarterly revenue fell short of analyst expectations Tuesday.

  Futures for the S&P 500 were 2.15 lower at 1835.5 while futures for the Dow Jones Industrial Average were 36.44 lower at 16,310.0. Nasdaq futures were off 2.95 to 3607.3.

  Twenty-five S&P 500 companies are due to report Wednesday, including  Coach   (COH) Northern Trust  (NTRS) United Technologies   (UTX) and  U.S. Bancorp   (USB) eBay   (EBAY) and  Netflix  (NFLX) will report after market close.

 
The domestic economic calendar is empty Wednesday. In other economic news, unemployment in the U.K. dropped to 7.1% in the three months to November. BOE officials this month agreed to keep rates at a record low even after unemployment reaches their 7% target.

  Markets closed mixed Tuesday after lackluster results for companies such as  Travelers   (TRV) Johnson & Johnson   (JNJ) and  Verizon (VZ).

  Germany's DAX was falling 0.30% while the FTSE was 0.12% lower. The Nikkei finished up 0.16% while the Hang Seng was 0.21% higher.
 
-- By Jane Searle in New York 

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