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New York - US stock index futures edged lower on Wednesday as IBM fell after the company gave a tepid outlook, though other high-profile names like Netflix and UnitedHealth rose on their results.
* Investors were also looking ahead to an upcoming European Central Bank (ECB) meeting, at which new stimulative measures may be announced.
* The ECB is expected to announce a bond buying program on Thursday to boost the region's flagging economy. Market participants have been looking for more aggressive measures of late to combat the risk of deflation that has grown alongside a drop in oil prices.
If the ECB doesn't announce a new programme, or announces a smaller one than investors are looking for, that could exacerbate market volatility.
* Crude oil rose 0.7% to $46.79 per barrel, partially rebounding off a drop of nearly 5% on Tuesday, though it remains near multi-year lows. ExxonMobil rose 0.7% to $91.71 before the bell.
* International Business Machines late on Tuesday reported lower-than-expected revenue and gave a 2015 profit target that was below forecasts. Shares of the Dow component fell 2.6% to $152.84 in premarket trading.
* Another member of the Dow, UnitedHealth Group, rose 2.3% to $108 in light premarket trading after reporting fourth-quarter earnings that beat expectations.
* Netflix jumped 15% to $402 and was one of the most actively traded Nasdaq names in premarket trade a day after the streaming video company said it was growing faster overseas than previously expected, a factor that was seen as offsetting slower growth in the US It also posted an adjusted profit that was much stronger than expected.
READ:Netflix eyes expanding to 150 more countries
* With 8% of S&P 500 companies having reported, 75% have topped earnings expectations, according to Thomson Reuters data. About 52% have topped on revenue.
* Traders were also digesting President Barack Obama's State of the Union address, delivered late on Tuesday, where he struck a defiant tone for his dealings with the new Republican-led Congress and called on his opponents to raise taxes on the rich.
