Futures Trade Mixed Ahead of Open

Stock futures signaled a mixed open Wednesday after several down days, boosted by some positive earnings reports, and following markets higher in Europe and Asia.

Ahead of the open, futures on the Dow Jones Industrial Average and the S&P 500 rose, while futures on the Nasdaq Composite, the only index to end higher on Tuesday, are down.

Dellreported better-than-forecast results after the bell Tuesday, sending its shares higher in extended trading.

Before the bell, Deere beat earnings estimatesthanks to strong demand for farm equipment and a weak dollar. BJ'sbeat expectations as more consumers turned to the wholesaler for food and gasoline, while Abercrombie & Fitch also beat earnings expectations. Target , meanwhile, traded flat after beating earnings estimates, but falling short on sales.

And SodaStream soared after delivering raising its outlook for the year, and reporting strong U.S. sales.

But Staples plunged after reporting disappointing same store sales and a weaker-than-expected profit in the first quarter.

Speculation about a succession at the International Monetary Fund's top continues after the arrest of Chief Dominique Strauss-Kahn for sex crimesin New York over the weekend.

The White House is reportedly set to propose White House adviser David Lipton to take over for John Lipsky in the number two job, as Lipsky is currently the acting head of the Fund.

Weekly oil and gasoline inventory data will be released by the Energy Department at 10:30 am.

Stocks of oil companies may be in focus Wednesday as the Senate stopped a move to repeal tax breaks for big oil corporations.

And Russia's Rosneft said talks with BP regarding cooperation can resume despite the lapse of a deadline for an agreement.

But one major shareholder in TNK-BP told CNBC.com that the collapse of the deal was a good thing for Russia because it shows the rule of law had prevailed.

European stocks were in the green and Asian markets advanced in cautious trade, while oil prices rebounded.

On Tap This Week:

WEDNESDAY:Oil inventories, FOMC minutes, Fed's Bullard speaks; earnings after-the-bell from Limited Brands.
THURSDAY: Weekly jobless claims, existing home sales, Philadelphia Fed survey, leading indicators, money supply, Halliburton shareholder meeting, Intel shareholder meeting, McDonald's shareholder meeting, Sallie Mae annual meeting, LinkedIn IPO; earnings from GameStop and Sears before-the-bell and Gap after-the-bell.
FRIDAY: JCPenney shareholder meeting, Macy's shareholder meeting, Time Warner shareholder meeting; earnings from Ann Taylor before-the-bell.

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