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Wall Street uneasy after record high; Greece deal eyed

U.S. stock index futures signaled a softer open on Wednesday, after the Greek government said it would request a loan extension from its euro zone creditors Tuesday.

Investors now hope that some kind of deal between Greece and its international lenders can be reached by the end of the week, as the European Central Bank said it would hold off on cutting emergency funding for Greek banks, according to Reuters.

Traders work the floor of the New York Stock Exchange.
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Traders work the floor of the New York Stock Exchange.

It comes after the S&P 500 stocks closed at a record high once again on Tuesday, and the Dow finished over 18,000.

A number of economic data releases are expected Wednesday, with January's industrial production due at 09:15 a.m. ET.

The Labor Department said on Wednesday its producer price index for final demand dropped 0.8 percent, the biggest drop since the revamped series started in November 2009, after falling 0.2 percent in December. It was the third straight month of decline in the PPI.

U.S. housing starts fell in January as ground breaking for single-family projects slipped off a 6-1/2-year peak, but stayed at levels consistent with a gradually improving housing market.

The publication of the minutes of last month's Federal Open Market Committee meeting comes at 2:00 p.m. ET.

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Hilton Worldwide missed estimates by one cent with adjusted quarterly profit of 17 cents per share, though revenue was above estimates. Hilton's revenue per available room in properties open at least a year rose less than expected, and the company is also projecting current quarter earnings below Street estimates.

Starwood Hotels said it will pay former CEO Frits Van Paasschen $7.2 million in severance, according to an SEC filing. He'll also get a $312,500 consulting fee for helping Starwood find his replacement.

Actavis earned $3.91 per share for its latest quarter, beating estimates of $3.67. Revenue was also above estimates and the company also raised its full-year forecast on upbeat sales growth for its top selling products. It's also planning to take the Allergan corporate name when it completes its acquisition of that company, pending shareholder approval.

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Garmin earned an adjusted 77 cents per share for its latest quarter, one cent below estimates, though revenue beat consensus. Garmin did say currency issues will slow revenue growth this year, but it will continue to invest in research and development.

Marriott, Energy Transfer Equity, Marathon Oil, Norwegian Cruise Line and SolarCity due after the bell.

European shares were higher after positive earnings and hopes of a Greek deal on Wednesday.

Elsewhere, the U.S. backed a Russian-sponsored peace proposal late Tuesday, despite reports that fighting is continuing in the Ukrainian town of Debaltseve. In statement, U.S. Vice-President Joe Biden condemned the violation of the cease-fire, saying that the costs to Russia "will rise" if it continues to violate the agreement.

Reuters and CNBC's Peter Schacknow contributed to this report.