By Ryan Vlastelica
NEW YORK (Reuters) - U.S. stock index futures pointed to a higher open on Wednesday as investors plucked bargains following recent declines amid signs of an easing of tensions in Ukraine and Iraq, which overshadowed some weak U.S. data and corporate forecasts.
* Wall Street has been largely driven by the news flow from abroad, and signs of progress were enough to overshadow some cautious signals in the U.S., where retail sales showed no growth in July, indicating some loss of momentum.
* Based on its Tuesday close, the benchmark S&P 500 is 2.7 percent off a record close late in July. Throughout 2014, investors have been using market pullbacks as opportunities to add to their positions.
* Poland's foreign minister eased some concerns about ongoing conflict between Ukraine and Russia, saying the threat of Russia invading Ukraine had receded amid reports an aid convoy that Moscow is sending to eastern Ukraine would cross the border under the aegis of the Red Cross. Still, Ukraine denounced the convoy as an act of Russian cynicism and said it would not be allowed to cross the border.
* Russia's dollar-denominated RTS index <.IRTS> jumped 1.4 percent and the Market Vectors Russia Exchange-Traded Fund
* Investors monitored the situation in Iraq, where the new prime minister-designate won endorsements from the United States and Iran, as well as Shi'ite militia and army commanders long loyal to Nuri al-Maliki, the previous prime minister, who has refused to step aside. The support of the army commanders may signal a lower likelihood the country would further descend into violence.
* Both Macy's Inc
Macy's lost 4.2 percent to $57.25 in premarket trading while Deere was down 0.8 percent.
* S&P 500 e-mini futures
* Amazon.com Inc
* King Digital Entertainment Plc
(Editing by Bernadette Baum)
