Stock index futures added to losses on Wednesday after the chief executive of Wal-Mart Stores Inc said he still sees stress in the economy and no quick end to the recession.

Nasdaq 100 futures were also hit after Intel Corp said economic uncertainty ruled out a clear revenue forecast despite beating quarterly expectations and declaring the worst was over for the tech sector. Its shares slid down 4.5 percent to $15.29 in premarket.

U.S. CPI data, due out at 8.30 a.m. EDT, could contain ominous signs for those worried about deflation. Prices are expected to have ticked up a tenth of a percent in March from February, both month-to-month and on a core basis, which excludes food and energy.

Swiss bank UBS said on Wednesday it was cutting a further 8,700 jobs as the company reported a first-quarter loss. UBS said it sees pressure on revenues continuing for some time in an internal memo to staff obtained by Reuters.

S&P 500 futures fell 4.7 points and were below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures fell 38 points, and Nasdaq 100 futures lost 12.50 points.

(Reporting by Edward Krudy; Editing by Theodore d'Afflisio)

Investment Down