Stock Futures Mixed on Conflicting Eurozone Reports

U.S. stock futures are mixed Wednesday morning on conflicting reports about the possibility of a giant bailout for the Eurozone.

Futures on the S&P 500 Index are down 0.02 percent at 7:38 a.m. ET, futures on the Dow Jones Industrial Average are up 0.10 percent, and futures on the Nasdaq 100 are down 0.62 percent.

On Tuesday, U.S. stocks surged on a report from the Guardian that France and Germany have agreed to push for a two trillion euros-sized EFSF bailout fund at the upcoming Eurozone summit on Sunday.

However, soon after the Guardian report, Dow Jones reported that the two trillion euros figure is totally wrong, citing an official. Many analysts and investors have also expressed their doubts and skepticisms.

The 'risk-on' mood is likely to prove fragile, with headlines about the denial of Guardian report and disappointing Apple earnings after U.S. trading session, warned Credit Agricole in a research note.

Tech giant Apple reported earnings late Tuesday that disappointed the market. Its shares are down 5.50 percent in pre-market trading.

Jeremy Batstone-Carr, strategist at Charles Stanley, has a more optimistic interpretation of the market's bullishness.

It's interesting that despite the denial the market still wants to go higher, which implies the market does think there's something in the pipeline, he told Reuters.