U.S. futures mixed to higher on upbeat earnings; Dow Jones up 0.12%

Investing.com - U.S. stock futures pointed to a mixed to higher open on Wednesday, boosted by strong earnings reports, although investors remained cautious ahead of the European Central Bank's upcoming policy-setting meeting.

Ahead of the open, the Dow Jones Industrial Average futures pointed to a 0.12% rise, S&P 500 futures signaled a 0.06% gain, while the Nasdaq 100 futures indicated a 0.05% loss.

The ECB was widely expected to keep rates unchanged at 0.75% on Thursday, while a post-policy meeting press conference by President Mario Draghi would be closely watched for indications on the future direction of monetary policy.

Sentiment had improved on Tuesday after data showed that the euro zone’s final services purchasing managers' index improved to a 10-month high of 48.6 in January from a final reading of 47.2 the previous month, adding to signs of recovery in the region.

The data overshadowed concerns over political uncertainty in Spain and Italy which pushed peripheral borrowing costs higher on Monday.

Internet-linked companies were likely to be active, after online gaming firm Zynga reported an unexpected fourth-quarter profit, sending shares up 6.47% in after-hour trade.

Separately, Take-Two Interactive Software reported higher revenue and earnings in the third quarter, beating analysts' expectations, as the company prepares to launch a new title from its mega-blockbuster "Grand Theft Auto" series.

Shares in Take-Two surged 6.64% in late trading.

In addition, online photo-sharing service provider Shutterfly saw shares soar 14.08% after hours, as fourth-quarter results beat analysts' estimates, thanks to higher demand during the holiday season.

Financial stocks were also likely to move, after Bloomberg reported that JP Morgan paid investment bankers and traders about 3% less in 2012, due to the U.S. and Europe's shaky economies.

Other stocks in focus included Time Warner, Virgin Media and News Corp, all due to report earnings later in the day.

Liberty Global announced earlier that it agreed to buy Virgin Media for USD16 billion in cash and stock.

Across the Atlantic, European stock markets were mixed to lower. The EURO STOXX 50 dropped 0.71%, France’s CAC 40 retreated 0.63%, Germany's DAX slipped 0.27%, while Britain's FTSE 100 rose 0.31%.

During the Asian trading session, Hong Kong's Hang Seng Index climbed 0.47%, while Japan’s Nikkei 225 Index surged 3.77%.

Later in the day, the U.S. was to release government data on crude oil inventories.