Wall Street Set for Weaker Start By Anshuman Daga LONDON (Reuters) - Wall Street was set for a weaker start on Wednesday, taking a cue from an uptick in crude oil prices, while investors will also watch out for home sales data. Genzyme (GENZ.O: Quote , Profile , Research ) might get a lift on news U.S. regulators had approved a new cancer drug from the company for treating a type of childhood leukemia after other therapies have failed. Dealers said Boeing Co. (BA.N: Quote , Profile , Research ) is likely to be hit by a report in the Wall Street Journal that China doesn't plan to approve new airline purchases next year. "This is like a complete climbdown and if this happens, it could be extremely bad news for both Boeing and Airbus," said Steve Previs, a dealer at Jefferies International. By 5:40 a.m. EST, U.S. stock futures were pointing to opening losses of between 0.09 and 0.15 percent for the three main indexes (DJH5: Quote , Profile , Research ) (SPH5: Quote , Profile , Research ) (NDH5: Quote , Profile , Research ) . Oil prices edged up for the second day, recovering from a week-long $5 slump ahead of U.S. inventory data expected to show a decline in winter heating fuel stocks. U.S. light crude oil futures were up 0.31 percent at $41.90 a barrel, building on Tuesday's small rise. In corporate news, American Airlines parent company AMR Corp. (AMR.N: Quote , Profile , Research ) forecast a decline in revenue in the fourth quarter from a year ago, according to a filing with U.S. regulators on Tuesday. On the economic front, sales of existing U.S. homes are due at 10 a.m. EST and economists expect home sales were probably unchanged in November from the strong pace recorded in October as mortgage loan rates remained relatively low. On Tuesday, the Dow and the Nasdaq closed at their highest levels in 3-1/2 years, while the S&P closed at its highest since August 2001, as stocks continued a rally that began in the run-up to Christmas, but which had halted on Monday. "The markets are still trading on an upward bias but my only concern is that quite a lot of people are bullish," said Previs. The Dow Jones industrial average rose 0.73 percent to 10,854.5 points and the tech-laced Nasdaq Composite index rallied 1.1 percent to 2,177.2 points. Shares of struggling teen clothing retailer Wet Seal Inc.(WTSLA.O: Quote , Profile , Research ) rose more than 4 percent in extended hours of trading on Tuesday after it said it will close about 150 underperforming stores as part of a major restructuring plan and lay off about 2,000 employees. The shares advanced to $2.18 on the Inet electronic brokerage system from $2.09, where they closed on Nasdaq. Quelle "Wall Street Set for Weaker Start" : reuters.com Main page for "Wall Street Set for Weaker Start"