Earnings news will take center stage Wednesday after a day of strong Tuesday. The S&P 500 and the Nasdaq posted a fourth session of gains following upbeat earnings from Apple, Texas Instruments and United Technologies, among others.
Asian and European market sentiment was buoyant following report that the European Central Bank could be poised to begin corporate bond purchases in the secondary debt market in an effort to fight disinflation.
The report by Reuters on Tuesday, citing anonymous sources, said a decision could be made as soon as December, with a view to starting purchases early next year.
The move could help bolster the ailing euro zone economy which is mired by falling inflation - seen at 0.3 percent in September- well below the ECB's 2 percent target.