In addition, the non-manufacturing ISM index will be published at 10 a.m., and the employment subcomponent may also provide some clues as to the direction of payrolls.
At 2 p.m., the Federal Reserve will release the March edition of its Beige Book its region-by-region assessment of the economy.
Former Fed Chairman Ben Bernanke is due to speak at a leadership conference in Johannesburg, South Africa on Wednesday, and the Dallas Fed's Stanley Fisher will speak in Mexico City.
Shares in Europe and Asia traded cautiously on Wednesday, despite the threat of imminent conflict in Ukraine receding. Russian President Vladimir Putin appeared to back away from military action in the Ukrainian region of Crimea on Tuesday and U.S. Secretary of State John Kerry condemned Russia's aggression in a news conference in Kiev.
(Track: European shares live)
—By CNBC's Katy Barnato