U..S. stock futures are trading mildly lower heading into the open, indicative of a potentially negative start to the regular session. In overseas trading, Asian markets took a cue from Wall Street, reversing yesterday's losses, while European markets were lifted by mining issue Rio Tinto. In focus this morning are a retail earnings trifecta – featuring Sears Holdings, Big Lots, and Costco Wholesale – and General Motors' plans to cut costs.

The Dow and Nasdaq were moderately lower at midsession after economic reports suggested the U.S. is closer to a recession. A rise in commodity prices is lifting shares of mining and energy companies.

U.S. stocks pointed to a lower opening in the U.S. on Wednesday, as a mixed batch of earnings reports led some traders to take profits after two weeks of gains in the Dow Jones industrials.