* Futures down: Dow 68 pts, S&P 12.25 pts, Nasdaq 41.75 pts
By Abhiram Nandakumar
Jan 27 (Reuters) - U.S. stock index futures were lower on Wednesday after oil prices gave up gains and Apple’s disappointing forecast.
* Apple’s shares were down 3.5 percent at $96.51 premarket after the company forecast its first revenue drop in 13 years and saw its slowest-ever rise in iPhone shipments as the slowdown in China hit sales.
* Crude prices resumed their decline after an unexpected rise in U.S. inventories erased optimism around the world’s top producers coming together to mitigate a massive glut.
* Global stocks took a hit from the slump in oil, ahead of the U.S. Federal Reserve’s statement on monetary policy due at 2:00 p.m. ET (1900 GMT).
* While an interest-rate hike is not expected today, the central bank’s statement will offer some insight into how the current turmoil in global markets is influencing its outlook.
* U.S. stocks closed higher on Tuesday, led by a surge in oil prices and strong quarterly results from industry bellwethers.
* Corporate results will also influence sentiment with a slew of companies reporting on Wednesday, including Boeing before the bell, and tech majors Facebook, Qualcomm and eBay after the close.
* AT&T was down 2.4 percent at $34.55 after the No. 2 U.S. wireless carrier reported revenue below estimates.
* TripAdvisor was down 5.5 percent at $65.85 after Goldman Sachs cut its rating on the stock to “sell”.
* Data is expected to show U.S. single-family home sales rose for the third straight month in December. The report isdue at 10:00 a.m.
Futures snapshot at 7:00 a.m. ET:
* Dow e-minis were down 68 points, or 0.42 percent, with 43,941 contracts changing hands.
* S&P 500 e-minis were down 12.25 points, or 0.65 percent, with 221,862 contracts traded.
* Nasdaq 100 e-minis were down 41.75 points, or 0.99 percent, on volume of 41,945 contracts. (Reporting by Abhiram Nandakumar in Bengaluru; Editing by Anil D‘Silva)