U.S. futures edge higher ahead of Bernanke, data; Dow Jones up 0.14%

Investing.com - U.S. stock futures pointed to a slightly higher open on Wednesday, as investors eyed comments by Federal Reserve head Ben Bernanke as well as a string of U.S. economic reports, while concerns over Italy's political woes continued to weigh.

Ahead of the open, the Dow Jones Industrial Average futures pointed to a 0.14% increase, S&P 500 futures signaled a 0.11% rise, while the Nasdaq 100 futures indicated a 0.09% gain.

Markets were jittery after the Italian election ended on Tuesday with no party or coalition in control of the Senate, raising the threat of a prolonged period of political instability and potentially reigniting the crisis in the euro zone.

Meanwhile, investors were looking ahead to a second day of Congressional testimony by Federal Reserve Chairman Ben Bernanke later in the trading day. Bernanke defended the bank's easing program on Tuesday, saying that the benefits outweighed the possible costs.

Aircraft companies were expected to be active, after Airbus parent EADS predicted higher profit this year, thanks to stronger-than-expected 2012 earnings and lower costs.

Separately, U.S. aerospace manufacturer Pratt & Whitney said it is 99% sure the fan blade problem that grounded the Pentagon's 51 new F-35 fighter jets was not caused by high-cycle fatigue, which could force a costly design change, according to a Reuters report.

Among earnings, Priceline and Edison International reported fourth-quarter results that beat analysts' projections, sending shares in both companies up 4.25% and 4.08% respectively in pre-market trade.

In the tech sector, Guidewire Software, a developer of software for insurance companies, surged 14.27% in early trading after the company raised its full-year revenue target to a range of USD286 million to USD292 million, exceeding analysts's estimates.

Elsewhere, hospital billings and collections firm Accretive Health was also likely to be in focus, after it withdrew its financial guidance and postponed its quarterly earnings report, previously scheduled for release on Wednesday, sending shares diving 13.29% pre-market.

Across the Atlantic, European stock markets were higher. The EURO STOXX 50 climbed 0.45%, France’s CAC 40 advanced 0.71%, Germany's DAX rose 0.25%, while Britain's FTSE 100 added 0.24%.

During the Asian trading session, Hong Kong's Hang Seng Index edged up 0.25%, while Japan’s Nikkei 225 Index tumbled 1.27%.

Later in the day, the U.S. was to publish official data on durable goods orders and pending home sales later Wednesday, while European Central Bank President Mario Draghi was to speak an event in Germany.