After 3M and Caterpillar supported the Dow to jump more than 100 upwards on Tuesday, a weaker batch of earnings hurt sentiment after the market close.

Among the blue-chips, AT&T saw shares slide 1% in pre-market trade Wednesday after the telecom giant’s weak subscriber numbers hit the top and bottom line.

Among other negative earnings reports, shares in AMD sank 9% as the chipmaker forecast a fourth quarter revenue decline and Chipotle Mexican Grill tumbled close to 10% after the restaurant chain posted a big miss on earnings.

Despite that recent batch of disappointing earnings, 73% of the 137 S&P 500 firms that have already reported results topped consensus on profit with 70% beating sales estimates, according to The Earnings Scout.

Ahead of Wednesday’s opening bell, Dow components Boeing, Coca-Cola and Visa will be the major focus on the earnings front.

The dollar traded steady against major rivals on Wednesday as speculation over who U.S. President Donald Trump would pick to be the next chair of the Federal Reserve.

Trump had apparently suggested that Fed governor Jerome Powell, Stanford University economist John Taylor, current Fed chair Janet Yellen were at the top of his short-list for candidates that also included chief economic adviser Gary Cohn and former Fed governor Kevin Warsh.

Powell was suggested to be in a tight lead ahead of Taylor and Yellen, but a Bloomberg report late Tuesday suggested that the President may be advocating for the reappointment of the Fed’s first female leader.

To the contrary, a separate media report suggested that Trump took the pulse of Senate Republicans on their preference for the position and the majority chose Taylor.

Trump is expected to make his decision 'very shortly' according to people familiar with the matter. Indeed, on Monday he said the decision was "very, very close." Expectations are that at the latest the announcement will occur by November 3, when the President embarks on his tour of Asia.

On the data front stateside, investors will keep an eye on durable goods and new home sales later today.

Japan’s Nikkei 225 broke a record 16 straight session of gains on Wednesday that had continued after the victory of Prime Minister Shinzo Abe's coalition in Sunday's election raised investors' hopes that his policies would keep the JPY weak.

European shares showed mixed trade on Tuesday as a poor series of earnings reports drove equities and disappointing results weighed on sentiment.

U.S. futures pointed to a breather on Tuesday as investors looked ahead to earnings.

The Bank of Canada's interest rate decision is due at 14:00 GMT on Wednesday, with most experts expecting the central bank to hold its benchmark rate at 1.0%.

The BoC surprised many by hiking rates for the second consecutive time at its previous meeting in September, but markets are pricing in the next move for the end of the year.

The decision comes ahead of the European Central Bank's own interest rate decision on Thursday. Though no changes to rates are expected, the ECB is widely expected to announce plans to taper and extend its asset purchasing program.

Meanwhile, UK GDP data released Wednesday showed stronger-than-expected growth in the third quarter, adding to the odds for a possible rate hike by the Bank of England next week.

Elsewhere, Oil prices traded lower on Wednesday as investors prepared for official data on U.S. crude oil inventories out at 14:30 GMT amid expectations for a decline of about 2.6 billion barrels.

The American Petroleum Institute reported late Tuesday that crude stockpiles unexpectedly rose by rose by 519,000 barrels last week.