Wall Street futures pointed moderately higher pre-bell Wednesday, after ASML (ASML) the giant Dutch maker of semiconductor-manufacturing equipment, reported record Q2 earnings and raised guidance.

In the futures, the S&P 500 rose 0.1%, the Nasdaq inclined 0.4% and the Dow Jones was even.

The VanEck Semiconductor ETF (SMH) traded up 1.2% pre-bell.

Investors also await the producer price index (PPI) report for June, from Washington at 8:30 am ET, likely to provide clues to how higher energy bills are impacting farmers, manufacturers and others.

Federal Reserve Chair Kevin Warsh will testify before the Senate Banking Committee at 10 am ET, following a similar presentation Tuesday before the House. Warsh signaled a commitment to containing inflation, before the lower body.

Asian exchanges traded higher overnight, on tech-sector strength. European bourses tracked slightly lower on the continent.

On the earnings scene, BlackRock (BLK) traded up 4.7% pre-bell after the investment house reported better-than-expected Q2 financial results.

PayPal (PYPL) traded up 19% pre-bell after media reports that Stripe and Advent International, both privately held, have proposed a $53 billion buyout of the payment-system enterprise.

On the economic calendar, in addition to the PPI report, is the Empire State Manufacturing Index for July at 8:30 am ET, followed by the weekly EIA petroleum status report at 10:30 am.

The Beige Book, the Federal Reserve's compendium of business and economic reports from the 12 Fed branches, posts at 2 pm.

Federal Reserve New York President John Williams, St. Louis President Alberto Musalem, and Governor Lisa Cook are slated to speak on Wednesday.

In pre-market action, bitcoin traded at $64,607, West Texas Intermediate crude oil traded up 1.1% at $80.18 and 10-year US Treasuries offered 4.61%. Spot gold commanded $4,031 an ounce.