NEW YORK (TheStreet) -- Stock futures trimmed gains on Wednesday after retail sales in April came in flat.
S&P 500 futures gained 0.2%, Dow Jones Industrial Average futures added 0.1%, and Nasdaq futures climbed 0.32%.
Retail sales in April were unchanged, falling below an expected 0.3% increase after 0.9% growth in March. Sales excluding autos rose 0.1%, according to the Commerce Department, though fell short of forecasts for 0.4% growth.
However, optimism in Europe helped to boost sentiment on Wall Street. The four largest economies in the eurozone -- Germany, France, Italy and Spain -- recorded growth in the first quarter, the first time all have been positive since 2010. The overall eurozone economy grew 0.4%, up from 0.3% in the fourth quarter.
Crude oil moved above $61 a barrel ahead of data out mid-morning which is expected to show a fall in U.S. stockpiles for a second week. The Energy Information Administration's weekly data follows from Tuesday's updated 2015 estimates that U.S. oil demand will increase and production will slow. West Texas Intermediate added 0.7% to $61.15 a barrel.
Macy's (M) fell 2.4% in premarket trading after earning 56 cents a share in its recent quarter, 6 cents below estimates. Sales of $6.23 billion were down nearly 1% from a year earlier and missed forecasts by $90 million.
Pall (PLL) and Danaher (DHR) shares moved higher after Danaher agreed to acquire the filtration system manufacturer for $127.20 a share, or a total $13.8 billion. Danaher also announced that after the acquisition the company will split into two independent, publicly traded companies, one focusing on science and technology and the other on industrials.
New York Times (NYT) shares moved higher in premarket trading as the news organization prepares to begin publishing articles directly to Facebook's (FB) newsfeed on Wednesday. Buzzfeed, Comcast's (CMCSA) NBC News and National Geographic are also reportedly in talks to develop similar partnerships.
GoDaddy (GDDY) was down more than 1% after reporting a quarterly loss of 34 cents a share on revenue of $376.3 million. The company also offered second-quarter sales guidance of $390 million to $395 million and full-year revenue guidance of $1.595 billion to $1.605 billion, above consensus of $1.59 billion.
Zillow (Z) shares moved 1% higher before the bell after reporting first-quarter net income of 5 cents a share, beating estimates by 17 cents. Revenue of $127.7 million was up nearly 93% year over year, though missed forecasts by around $8 million.
General Electric (GE) shares were on watch on news as the industrial conglomerate is reportedly putting its $5 billion Japanese commercial finance operation on the sale block. The company has been working to slim down its GE Capital division.
Delta Air Lines (DAL) gained more than 2% after approving a new $5 billion share repurchase program. The new program will combine with existing buybacks to provide more than $6 billion to shareholders over the next two years.
DuPont (DD) was lower ahead of the results of an annual shareholder meeting in which activist investor Nelson Peltz of Trian Fund Management will vie for a board seat. The company has refused to give him a board seat in the past and rejected demands to split the company into two. DuPont was seen winning its proxy fight against Peltz, sources told CNBC early Wednesday.