U.S. stocks were set to open little changed Wednesday, as investors remain cautious amid a host of economic uncertainties.
Economy: New orders for long-lasting goods fell more than expected in April, the Commerce Department said. Durable goods orders fell 3.6% last month, versus a forecasted 2% decline.
Companies: Shares of AIG (AIG, Fortune 500) fell 2%, after the insurance giant's long-awaited stock sale late Tuesday raised $8.7 billion, leaving the U.S. government with a tiny profit on the offering.
Applied Materials (AMAT, Fortune 500) reported strong quarterly results late Tuesday, but the semiconductor company issued a profit outlook for the current quarter that fell short of analysts' expectations. Shares were down 5% in premarket trading.
Shares of Russian search engine Yandex (YNDX) surged 52% to about $38 in premarket trading, a day after the company went public at $25 a share.
California Pizza Kitchen is being bought by Golden Gate Capital for $470 million, or $18.50 per share in cash. Shares of CPK (CPKI) rose 12% ahead of the opening bell.
Oil for July delivery slipped 90 cents to $98.69 a barrel.
Gold futures for June delivery rose $2 to $1,525.40 an ounce.
Bonds: The price on the benchmark 10-year U.S. Treasury eased, pushing the yield up to 3.13% from 3.12% late Tuesday.
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