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from CNN Money
NEW YORK (CNNMoney.com) -- U.S. stock futures fell early Wednesday after talk of the collapse of the $19 billion sale of radio broadcaster Clear Channels spurred a new round of credit fears.
Less than three hours before the open, Nasdaq and S&P futures were lower and pointing to a negative start for Wall Street.
Banks are unwilling to provide financing for Clear Channel's to private-equity firms, according to published reports.
If the deal collapses, it would be the latest in a string of buyouts to fall victim to the tightening credit markets.
Investors have been on edge amid concerns about a deep recession in the U.S. Stocks finished Tuesday's session mixed after readings on housing and consumer confidence came in weak.
On the economic front, a report on durable goods orders is due before the market open. Economists surveyed by Briefing.com are forecasting orders for large-ticket items by businesses and consumers managed a 0.8% gain in February after falling more than 5% the previous month.
A reading on new home sales comes later at 10 a.m. ET, with economists forecasting a drop in sales to a 13-year low.
At 10:30 a.m. ET comes the government report on U.S. fuel inventories. Oil prices rose ahead of the report, with a barrel of light, sweet crude adding $1.07 to $102.29 a barrel in early electronic trading.
Among companies to watch, Citigroup (Fortune 500) could come under pressure after influential banking analyst Meredith Whitney of Oppenheimer & Co. significantly raised her first-quarter loss estimate for the company. She also cut earnings forecasts at the nation's other major banks. Shares of Dow component Citigroup lost 1.7% in early Frankfurt trading.