By Barbara Kollmeyer, MarketWatch

MADRID (MarketWatch) -- U.S. stock futures drifted south on Wednesday, as pressure stayed on commodity prices. Stock futures moved lower as Bank of America Corp., posted a small profit that was better than expected and markets awaited data points including quarterly results from American Express Co. and retail sales figures.

Retail-sales data and the Federal Reserve's Beige Book are also on the calendar.

Futures for the S&P 500 index (SPZ4) eased 7.20 points to 1,867.60, while those for the Nasdaq-100 index (NDZ4) fell 8.25 points to 3,803.50. Futures for the Dow industrials (DJZ4) slipped 36 points to 16,219.

The S&P 500 index(SPX) snapped a three-day losing streak on Tuesday, closing up 0.2% to 1,877.70, but also ending a string of wild swings that lasted for five sessions.

Sean Darby, chief global equity strategist at Jefferies, said it's unlikely the U.S. stock market has entered a bear-market phase, but rather investors are just unwinding "unfettered confidence" in central-bank policy.

"The equity market will bottom out once commodity prices find a floor and the fear of deflation recedes," he said in a note dated Tuesday. Crude-oil prices (CLZ4) fell anew on Wednesday, dropping 1% ahead of key supply data. Prices hit a two-year low on Tuesday after a cut in the outlook for oil-demand growth from the International Energy Agency. Energy-related stocks have sold off the last four sessions.

Earnings, then data: Among the big companies reporting ahead of the bell, Bank of America (BAC) reported a third-quarter loss that was smaller than expected, sending the shares 1.3% higher ahead of the open.

American Express (AXP) will also report, with expectations for per-share earnings of $1.37 on revenue of $8.35 billion.

Netflix Inc. (NFLX) and eBay Inc. (EBAY) will report after the close. Check out MarketWatch's for previews.

A chunk of economic data will mix in with earnings reports. At 8:30 a.m. Eastern Time, fresh data are expected to show retail sales declined 0.2% in September. However, that likely drop is being blamed on a slowdown in auto sales that's expected to prove temporary. See preview

Producer prices for September are due at the same time, as is the Empire State index. That index, and the Federal Reserve's Beige Book -- due at 2 p.m. Eastern -- are expected to paint a picture of a strong manufacturing sector and improving U.S. economy.

Stocks to Watch: AbbVie Inc. (ABBV) shares fell 2% in thin, premarket trading after the U.S. drug maker indicated it's reconsidering a $54 billion deal to buy Shire PLC in light of new Treasury rules that make that deal less attractive. Shares of Shire slumped 27% in London, weighing on the FTSE 100, while its U.S.-listed shares (SHPGY) sank 25% in premarket. Ireland to close 'Double Irish' tax loophole

Hazmat-suit related companies that have recently rallied on Ebola fears were surging once again in premarket trading on Wednesday. Shares of Lakeland Industries Inc. (LAKE) rallied 19%, Alpha Pro Tech Ltd. (APT) jumped 22% and Versar Inc. (VSR) picked up 14%.

Qualcomm Inc.(QCOM) said it has offered to buy U.K. chip maker CSR PLC in a $2.5 billion deal. In August, CSR rejected a takeover offer from Microchip Technology Inc. (MCHP). U.S-listed CSR shares (CSRE) surged 28%.

Intel Corp. (INTC) shares were rising in premarket trading, after the chip maker posted improved earnings and revenue late Tuesday.

Ann Inc. (ANN) could rise in premarket after the retailer reported a nondisclosure agreement with Golden Gate Capital, the private-equity firm that disclosed a big stake in the company earlier this year.

Other markets: Asian stocks largely rebounded from prior-day losses. Gold prices (GCZ4) slipped $10 as global equity markets appeared to calm down. The dollar(USDJPY) rose against the yen as Tokyo stocks gained.

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