Asian markets ended mixed. The Shanghai Composite slid 0.2%, while the Hang Seng in Hong Kong moved up 1% and Japan's Nikkei rose 0.8%.
Economy: Durable goods orders for May surpassed expectations. The U.S. Census Bureau reported new orders for manufactured durable goods in May increased 1.1% to $217.2 billion. Analysts had expected half that.
May's pending home sales, reported by the National Association of Realtors at 10 a.m. ET, are expected to have risen.
Companies: Pesticide-maker Monsanto reported quarterly earnings of $1.63 a share on $4.2 billion in revenue, slightly better than expected. Shares were up slightly in premarket trading.
Food producer General Mills posted quarterly and annual earnings, missing forecasts on both. CEO Ken Powell said rising commodity costs -- the highest in more than 30 years -- ate away at profits.
Investors will also be keeping tabs on Facebook, since Wednesday marks the end of the so-called quiet period, allowing analysts to publish research on the social media company's estimated value.
Shares of News Corp edged higher in premarket trading, after surging more than 8% Tuesday. News Corp. said it may split into two entities -- one comprising the 20th Century Fox film studio, the Fox broadcast network and the Fox News Channel, and the other housing its newspaper and book publishing businesses.
Shares of Best Buy fell slightly in premarket trading, continuing the more than 1% slide in after-hours trading.
Currencies and commodities: The dollar remained flat against the euro, but rose against the British pound and Japanese yen.
Oil for August delivery fell 6 cents to $79.30 a barrel.