US STOCKS-Futures edge lower after weak IBM results
* IBM shares fall after results, Netflix rallies
* Investors look ahead to ECB meeting
* Crude oil rises but still sharply down for week
* Futures down: Dow 78 pts, S&P 5.75 pts, Nasdaq 11.25 pts (Updates prices)
By Ryan Vlastelica
NEW YORK, Jan 21 (Reuters) - U.S. stock index futures fell on Wednesday after a disappointing outlook from IBM and as investors reduced their exposure ahead of an upcoming European Central Bank (ECB) meeting that could result in new stimulative measures.
The ECB is expected to announce a bond-buying program on Thursday to boost the region's flagging economy. Market participants have been looking for more aggressive measures to combat the risk of deflation that has grown alongside a drop in oil prices. If the ECB doesn't announce a new program, or unveils a smaller one than investors are looking for, that could exacerbate market volatility.
Crude oil rose 1.7 percent after dropping nearly 5 percent on Tuesday, though it remained near multiyear lows. ExxonMobil Corp was up 0.3 percent to $91.35 before the bell.
International Business Machines Corp reported lower-than-expected revenues late Tuesday and gave a 2015 profit target below estimates. Shares of the Dow component fell 2.4 percent to $152.13 in premarket trading. Continuación...