Stocks: Gearing up for more earnings

U.S. stocks were poised for a modest retreat Wednesday, as investors await the latest news round of corporate earnings.

The Dow Jones industrial average (INDU), S&P 500 (SPX) and Nasdaq (COMP) futures were about 0.3% lower in premarket trading. Stock futures indicate the possible direction of the markets when they open at 9:30 a.m. ET.

"Today, in the absence of any real hard news, I think it's going to be earnings [that drive trading], and probably a bit of curbing of enthusiasm after the big move we saw in the equity markets yesterday," said Mark Luschini, chief investment strategist at Janney Montgomery Scott.