US Markets

Wall Street edgy amid blue-chip earnings

Earnings remain the story on Wall Street

U.S. stock index futures pointed to a flat to higher open on Wednesday, ahead of more major earnings releases and some key housing data.

Coca-Cola, McDonald's and Facebook are among the 31 companies due to report on other bumper day of earnings. Others include Boeing, Bank of NY Mellon and Six Flags before the bell, and AT&T, eBay, Qualcomm and Texas Instruments after the close.

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Coca-Cola earned an adjusted 48 cents per share for the first quarter, six cents above estimates, with revenue also above forecasts. Global case volume did fall short of estimates, although the company delivered a better-than-expected quarter in the European market.

McDonald's earnings missed on both the top and bottom lines.

Photo: Getty Images

Housing data will also be in focus, with the FHFA house price index for February showing a 0.7 percent increase from the previous month. Analysts polled by Reuters expected a 0.3 percent gain.

Existing home sales data for March at 10:00 a.m. ET is expected to show a second consecutive monthly increase, to just over 5 million, broadly matching the average monthly reading since last summer.

In an encouraging sign that the housing market is picking up, total mortgage application volume rose 2.3 percent week to week on a seasonally adjusted basis for the week ending April 17th, according to the Mortgage Bankers Association (MBA).

U.S. stocks closed mixed on Tuesday, mostly failing to hold momentum from Monday, as investors reacted to earnings reports. The trend of earnings beats and revenue misses continued after the close, with Chipotle and Yum among those falling short.

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European stocks turned lower in morning trade on Wednesday, as investors digested a slew of earnings from European companies.

CNBC's Peter Schacknow contributed to this report