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United Tech leads earnings on Wall Street

U.S. stock index futures pointed to a flat open on Wall Street on Wednesday, ahead of another busy day for quarterly earnings.

Dow-listed United Technologies is the main company of interest reporting before the start of trade, along with U.S. Bancorp, ASML Holding, Coach, Motorola Solutions, Northern Trust, Progressive Corp., and St. Jude Medical.

United Technologies said earnings from continuing operations jumped 53 percent to $1.45 billion, or $1.58 per share. That topped the analysts' average estimate of $1.53 per share, according to Thomson Reuters I/B/E/S.

(Read more: United Technologies profit tops Street estimates)

The day will be a light for economic indicators, with U.S. mortgage applications being the only major indicator to watch. The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, rose 4.7 percent to 404.1 in the week ended Jan. 17.

(Read more: Mortgage apps slowly rebound from steep tumble)

In Europe, the world's political and economic leaders, including Treasury Secretary Jack Lew, have gathered for the World Economic Forum in Switzerland, which starts on Wednesday.

More than 2,500 participants are attending the event, which is expected to focus on rising income disparity.

(Read more: World's elite gathers for Davos 2014)

—By CNBC's Katy Barnato

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