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.