What to expect from US session for 05.04.2016

Dow futures were down about 90 points, while S&P and Nasdaq futures fell 12 points and 30 points, respectively.

Time Warner and Delphi Automotive reported first quarter results early in the day, with numbers due from Kraft Heinz, Tesla Motors and 21st Century Fox after the markets close.

In Europe, Royal Dutch Shell posted a sharp fall in earnings for the first three months of 2016, in its first earnings report since its purchase of BG Group.

Shell profit tumbles as lower crude price hurts
The day will be a busy one for economic data, with the ADP employment report for April of interest ahead of non-farm payrolls on Friday. There will also be data on factory orders, productivity and the ISM services index.

Economists at Capital Economics forecast the trade deficit narrowed in March due to a decline in imports and the ISM non-manufacturing index rose in April.

According to Reuters, Pfizer has expressed interest in bidding for U.S. cancer drug maker Medivation. This raises the possibility of a bid to rival Sanofi's $52.50 per share cash offer.

The U.S. dollar index rose slightly against a basket of major currencies on Wednesday, building on Tuesday's slight recovery.

This weighed marginally on the prices of commodities, which are largely denominated in U.S. dollars. Crude oil futures traded flat to lower overnight.

WTI crude futures may gain direction on Wednesday from the publication of the American Petroleum Institute's weekly crude inventories report at 4:30 p.m. ET.

Donald Trump took a step closer to being the Republican presidential nominee on Tuesday, with a victory in Indiana's primary. Rival Ted Cruz suspended his campaign following the vote.