1. Markets struggle for direction

There's a distinct lack of direction in the markets right now. U.S. stock futures are holding steady. European markets are mixed in early trading.

Asian markets are ending the day with varied results.

This comes after all the major U.S. indexes dipped on Tuesday. Dow Jones industrial average and S&P 500 dropped 0.3%, while the Nasdaq slipped 0.6%.

2. Yellen speech ahead

Federal Reserve Chair Janet Yellen is scheduled to speak publicly in California on Wednesday. The event kicks off at 20:00 GMT.

Wall Street will be watching to see if Yellen drops hints about how the Fed views plans from President-elect Donald Trump to stimulate the U.S. economy and create jobs.

She'll be speaking immediately after the release of the Fed's Beige Book for January.

3. Earnings

Citigroup, Goldman Sachs and TD Ameritrade are releasing earnings before the open.

Investors will look to see if the results match last week's solid reports by JPMorgan Chase and Bank of America (BAC). Bank stocks have rallied since the election, boosted by expectations of fewer regulations and rising interest rates when Trump becomes president.

Meanwhile, Netflix plans to release earnings after the close. Last quarter, the firm announced it had added 3.6 million subscribers, shattering expectations. The company's stock hit an all-time high last week.

4. USD rebounds, GBP plunges

The dollar rose against other major currencies on Wednesday, easing off a 1-month low hit after U.S. President-elect Donald Trump said on Tuesday that the greenback is too high and is hurting the economy.

The greenback weakened broadly after Donald Trump said to the Wall Street Journal on Monday that U.S. companies could not compete with China "because our currency is too strong. And it's killing us".

Meanwhile, the GBP remained lower against the broadly stronger dollar on Wednesday despite data showing that U.K. jobless claims fell in December and wages rose, as investors continued to assess Prime Minister Theresa May’s Brexit plans.