U.S. stock index futures hovered around the flatline Wednesday as investors digested a batch of corporate earnings results and following the recent rally that took major averages to their best levels in more than five years.
Among tech earnings, Google rallied after the search-engine giant posted earnings that topped expectations. IBM also gained after the technology services company reported quarterly results that exceeded projections, thanks to growth in emerging markets.
Also among earnings, United Technologies edged higher after the conglomerate also beat expectations, even though profit actually declined. Fellow Dow component McDonald's climbed after the fast-food giant topped earnings and revenue expectations, but warned that it sees sales lower early in the first quarter.
Meanwhile, Coach plunged after the leather-goods retailer reported holiday quarter sales below Wall Street estimates as a tough economy and stiff competition in the women's handbags segment hurt sales in North America.