November’s trade deficit could have narrowed on the back of collapsing oil prices, forecast Ashworth. Oil prices continued to fall on Wednesday, with the price of Brent crude temporarily dipping below $ 50 per barrel, for the first time since mid-2009.

Read MoreBrent dips below $ 50 for first time since May 2009

Agriculture company Monsanto will post results on Wednesday.

Other stocks worth watching include Boeing, after it reported on Wednesday that it delivered an industry record of 723 jetliners in 2014.

Read MoreBoeing deliveries hit record, Airbus wins on orders

Plus, Royal Dutch Shell has agreed to pay $ 83 million in compensation to 15,000 Nigerian fishermen affected by oil spills, in a settlement reported to be the biggest of its kind.

Outside the U.S., official data showed that falling energy prices pushed the euro zone into deflation, with prices falling 0.2 percent year-on-year in December.

And in Paris, at least 12 people were killed in a shooting at a French satirical news magazine Charlie Hebdo, which has published cartoons of the Muslim Prophet Muhammad, police told reporters Wednesday.

Read MoreAt least 11 dead after shooting at Paris magazine