Oil will also remain in focus with crude and natural gas inventories both due Wednesday.
Crude oil futures dipped on Wednesday as investors took profits after prices rallied to two-week highs in the previous session on mounting geopolitical tension in the Middle East as Turkey downed a Russian warplane.
Brent fell about 85 cents to $45.27 a barrel on Wednesday. It settled up $1.29, or 2.9 percent, at $46.12 a barrel on Tuesday, after hitting a two-week high at $46.50.
U.S. crude's West Texas Intermediate (WTI) futures lost 75 cents to $42.12 a barrel.
Data on the housing market include weekly mortgage applications, the FHFA home price index showed a 0.8 percent rise in September from August.
New home sales are due at 10 a.m.
Traders will also get another look at the consumer with the University of Michigan's final read on November consumer sentiment due at 10 a.m. On Tuesday, the Conference Board's consumer confidence index missed estimates and declined for a second straight month in November to 90.4.
In bond markets, the Treasury is scheduled to hold a seven-year note auction Wednesday.
On the earnings front, Deere reported before the bell.
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In Europe, equities traded higher Wednesday, despite rising geopolitical tensions between Russia and NATO member Turkey.
— CNBC's Evelyn Cheng contributed to this report.