Trading could be quiet on Wednesday, as investors wait for more corporate earnings to confirm a positive start to the reporting season.

U.S. stock futures pointed to a flat open.

Aluminum producer Alcoa became the first Dow component to report fourth-quarter results after the bell on Tuesday, posting earnings in line with expectations but better-than-expected sales. The news sent shares of the company nearly 2% higher in premarket trading.

Shares of wireless broadband provider Clearwire surged in after-hours trading Tuesday on news that Dish Network had offered to buy the company, kicking off a takeover battle with Sprint. Shares of sprint were down nearly 3% in premarket trading.

However, U.S. stocks fell for the second day in a row on Tuesday, as investors cautiously braced for Corporate America to start reporting quarterly earnings.

Fear & Greed Index

European markets were slightly higher in afternoon trading, while Asian markets ended mixed. The Shanghai Composite closed even on the day, while the Hang Seng added 0.5% and Japan's Nikkei advanced 0.7%.