Stocks are indicated lower Wednesday morning, as global equity markets dip and investors await the day’s economic news. Thirty minutes before the opening bell on Wall Street, stock index futures hint at possible 30 or 40-point early loss for the Dow Jones Industrial Average.

Japan’s Nikkei fell .9 percent and markets are broadly lower across Europe before the start of trading in New York. A .9 percent decline in Germany’s DAX is pacing the decline across the euro-zone.

Weakness in commodity-related names helped send the benchmarks lower after gold lost another $8.60 to $1089.50 an ounce. Crude oil edged up .18 to $79.05.

In the US, manufacturing data comes into focus at 9:45 a.m. eastern time. Economists expect the Chicago PMI, a gauge of regional manufacturing activity, to slip to 55.1 in December, down from 56.1 the month before.

Bonds are flat ahead of the news, and as players await the final auction of the year — $32 billion in seven-year notes. The benchmark ten-year Treasury is unchanged and yields 3.8 percent.

The dollar is stronger, gaining .24 to 92.28 against the yen. The euro slipped to 1.4341 from 1.4349 late yesterday.

Among the stocks to watch, Dow component Johnson & Johnson (JNJ) is in focus after the FDA rejected trial data on an anti-infection drug. Pfizer (PFE) might fall after stopping a late stage trial of a lung cancer treatment. NVidia (NVDA) and Marvell Tech (MRVL) might see early strength after Kaufman analysts upgraded the two companies to Buy.