Stocks: Earnings continue to draw focus

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NEW YORK (CNNMoney)

Firms including CVS Caremark (CVS, Fortune 500)and CNNMoney parent Time Warner (TWX, Fortune 500) are set to release their quarterly results in the morning. News Corp. (NWSA, Fortune 500), Yelp (YELP) and Green Mountain Coffee Roasters (GMCR) are up after the bell.

U.S. stock futures were higher early Wednesday.

Disney (DIS, Fortune 500) shares rose 4% in premarket trading, a day after the media company reported earnings and revenues that beat analysts' forecasts.

Zynga's (ZNGA) results also came in ahead of forecasts Tuesday, sending the shares sharply upward in after-hours trading.

U.S. stocks finished higher Tuesday on the strength of solid corporate results.

Related: Fear & Greed Index reaches 'extreme greed'

Markets in Asia were led higher by the Nikkei, which surged 3.8% on hopes that the yen will continue to weaken. The rally was helped by news that Bank of Japan Governor Masaaki Shirakawa will step down from his post sooner than expected. The country's central bank has been under intense political pressure to engage in further monetary easing. Meanwhile, the Shanghai Composite added 0.1% and Hong Kong's Hang Seng gained 0.5%.

European markets were mixed in morning trading on Wednesday. Steel giant ArcelorMittal (AMSYF)reported it was seeing "positive indicators," despite the fragility of the European economy and operating profit should rise in 2013.

First Published: February 6, 2013: 4:59 AM ET

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