US pre-open: Stocks seen muted after another record high for the Dow

US futures pointed to a muted open on Wall Street on Wednesday after the Dow notched another record closing high the day before.

At GMT, Dow Jones Industrial Average and S&P 500 futures were down 0.1%, while Nasdaq futures were flat.

Craig Erlam, senior market analyst at Oanda, said: "While many may claim that Trump’s achievements to date equate to very little given his difficulties repealing and replacing Obamacare, slower than expected progress on tax reform and minimal detail on fiscal stimulus, investors have clearly not been deterred as is evident by staggering gains in US stocks.

"Of course, much of this may still be conditional on the President delivering on the latter two in particular and some is also attributable to the rally in global equity markets over the same period, but the Trump trade is clearly still alive and well."

In corporate news, Snapchat parent Snap managed to recover from an earlier 21% plunge to a much more modest 4% drop in pre-market trade. The stock had been down on the back of disappointing results late on Tuesday, but losses were trimmed following reports that Chinese internet company Tencent has taken a 10% stake in the company.

Health insurer Humana looked set for an up day after it lifted its adjusted earnings guidance for 2017 and announced plans to cut around 6% of its workforce.

Take-Two Interactive Software also looked set for gains after the video games distributor's second-quarter revenue beat estimates and it lifted its full-year adjusted revenue forecast.

Shares in biotechnology group Regeneron were likely to be active after it posted a better-than-expected quarterly profit earlier on Wednesday.

LendingClub was likely to open lower after it said it expects to report a fourth-quarter loss, while Fossil shares were down more than 7% in pre-market trade after its third-quarter earnings on Tuesday.