NEW YORK (CNNMoney.com) -- Strong earnings reports from some tech bellwethers have stocks pointing to a higher open ahead of some key economic readings due before the bell Wednesday.

Stock futures, an indication of where stocks will trade in the early going, were up at 5:45 a.m. ET.

After the bell Tuesday, No. 1 chipmaker Intel (Charts) reported lower earnings that nonetheless beat estimates, as the company said it is winning back lost market share. Computer maker IBM (Charts) also beat forecasts on improved earnings. Both Dow components were higher in Frankfurt trading early Wednesday.

Internet firm Yahoo! reported disappointing results, but shares gained in after-hours trading after its CEO told investors during a conference call that its long-awaited new search technology was now live. Its shares were also up in Frankfurt Wednesday.

But shares of cell phone maker Motorola (Charts) fell in Frankfurt trading after posting disappointing results.

Earnings reports due Wednesday include Dow component JP Morgan Chase (Charts) before the market open, and computer maker Apple Computer (Charts) after the bell.

At 8:30 a.m. ET the government will give its key inflation reading, the Consumer Price Index, as well reporting on housing starts and building permits. The CPI report, which measures prices on the retail level, will be closely watched after the Producer Price Index, which measures price pressures on the wholesale level, showed a much bigger than expected gain if energy and food prices are excluded.

Oil prices were slightly lower ahead of the 10:30 a.m. ET report on U.S. fuel inventories.