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 * Consumer inflation in China rose 1.6 percent in September, less
than the 1.8 percent expected, feeding worries of sluggish demand
from the world's second largest economy.
* Global stocks fell, buckling under the China concerns. U.S. stocks
closed lower on Tuesday, ending a seven-day run of gains, hurt by a
renewed rout in biotechs.
* JPMorgan shares fell 1.6 percent to $60.55 premarket, a day after
the bank reported third-quarter results below estimates.
* Bank of America rose 0.8 percent to $15.65 after the bank reported
a profit, compared with a year-earlier loss. * Delta Air Lines <DAL.N>
rose 1.6 percent to $48.50 after it reported third-quarter earnings
ahead of expectations. * Investors will be focused on earnings over
the next several weeks to gauge the impact of a sputtering global
economy on corporate health.
* S&P 500 companies are expected to report a 4.8 percent fall in
third-quarter profit, the biggest decline in six years, according to
Thomson Reuters data.
* Wells Fargo reports results before the bell. Netflix reports
after the close.
* Intel fell 2.3 percent to $31.29 after the world's biggest
chipmaker cut its outlook on Tuesday on revenue growth at its key
data center business.
* Sandisk rose 9.5 percent to $67.62 on a Bloomberg report, which
said Micron Tech and Western Digital were in talks to buy the memory
chip maker.
* Data due on Wednesday includes U.S. retail sales data for
September, forecast to have increased 0.2 percent. The data is
scheduled at 8:30 a.m. ET (1230 GMT).
* The data will give investors a picture of domestic demand and its
impact on the Federal Reserve's decision to raise interest rates.
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* The central bank, which has kept rates at near-zero levels, has
said it is awaiting signs of stabilized inflation before pulling the
trigger.
* Also due at 8:30 a.m. is the producer price index, which is
forecast to have fallen 0.7 percent in the 12 months to September,
the eighth decline in a row.
* The Fed will issue its Beige Book, which contains anecdotal
information on business activity. The data is expected to show an
increase in the budget deficit to $95.0 billion in September from
$64.4 billion in August.
Futures snapshot at 7:08 a.m. ET:
* S&P 500 e-minis were down 1 points, or 0.05 percent, with 119,877
contracts traded.
* Nasdaq 100 e-minis were down 7.5 points, or 0.17 percent, on
volume of 21,453 contracts.
* Dow e-minis were down 7 points, or 0.04 percent, with 16,566
contracts changing hands.
(Reporting by Abhiram Nandakumar in Bengaluru; Editing by Don
Sebastian)
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