U.S. stock index futures edged lower on Wednesday as IBM fell after the company gave a tepid outlook, though other high-profile names like Netflix and UnitedHealth rose on their results.
* Investors were also looking ahead to an upcoming European Central Bank meeting, at which new stimulative measures may be announced.
* The ECB is expected to announce a bond buying program on Thursday to boost the region's flagging economy. Market participants have been looking for more aggressive measures of late to combat the risk of deflation that has grown alongside a drop in oil prices. If the ECB doesn't announce a new program, or announces a smaller one than investors are looking for, that could exacerbate market volatility.
* Crude oil rose 0.7 percent to $46.79 per barrel, partially rebounding off a drop of nearly 5 percent on Tuesday, though it remains near multi-year lows. ExxonMobil Corp rose 0.7 percent to $91.71 before the bell.
* International Business Machines Corp late Tuesday reported lower-than-expected revenue and gave a 2015 profit target that was below forecasts. Shares of the Dow component fell 2.6 percent to $152.84 in premarket trading.
* Another member of the Dow, UnitedHealth Group Inc, rose 2.3 percent to $108 in light premarket trading after reporting fourth-quarter earnings that beat expectations.
* Netflix Inc jumped 15 percent to $402 and was one of the most actively traded Nasdaqnames in premarket trade a day after the streaming video company said it was growing faster overseas than previously expected, a factor that was seen as offsetting slower growth in the U.S. It also posted an adjusted profit that was much stronger than expected.
* With 8 percent of S&P 500 companies having reported, 75 percent have topped earnings expectations, according to Thomson Reuters data. About 52 percent have topped on revenue.
* Traders were also digesting President Barack Obama's State of the Union address, delivered late Tuesday, where he struck a defiant tone for his dealings with the new Republican-led Congress and called on his opponents to raise taxes on the rich.
Futures snapshot at 6:54:
* S&P 500 e-minis were down 3.25 points, or 0.16 percent, with 89,548 contracts changing hands.
* Nasdaq 100 e-minis were down 8.75 points, or 0.21 percent, in volume of 22,408 contracts.
* Dow e-minis were down 52 points, or 0.3 percent, with 16,416 contracts changing hands.