By Lauren Almeida 

-- U.S. stock futures edge up

-- Asian, European indexes muted

-- U.S. Treasury yields fall

Global stocks wavered Wednesday ahead of another batch of earnings reports from major U.S. companies.

In Europe, the Stoxx Europe 600 switched between small losses and gains after a mixed session in Asia. Telecommunications equipment maker Ericsson suffered one of the biggest falls, with a drop of more than 6% on concerns about higher costs that led to a narrower-than-expected operating margin, according to Citigroup analysts.

Drugmaker Swedish Orphan Biovitrum had one of the strongest showings in the region, with its stock soaring as much as 13% after the company boosted its full-year forecast.

S&P 500 futures gained 0.2%. The contracts don't necessarily predict moves after markets open.

Bank of America's results are due Wednesday and investors will be watching to see whether low interest rates have benefited its consumer business, as they have for other major U.S. banks. Netflix, eBay and Alcoa are due to report later in the day.

The yield on 10-year Treasurys fell to 2.102% Wednesday from 2.124% Tuesday. Yields fall when bond prices rise. The WSJ Dollar Index, which measures the currency against a basket of peers, was flat.

Federal Reserve Chairman Jerome Powell told an audience in Paris on Tuesday that the central bank is "carefully monitoring" downside risks to U.S. growth, strengthening expectations of an interest-rate cut.

Elsewhere, bitcoin fell by about 1.3%, trading below $10,000 for a second day as U.S. senators questioned Facebook over its proposed Libra cryptocurrency, highlighting the skepticism that digital-coin systems face from regulators.

Bitcoin, the world's most popular cryptocurrency, has lost almost a third of its value, according to prices from research site CoinDesk, after trading above $13,000 a week ago, which was near its high for the year.

The U.S. Commerce Department is set to release June housing starts data later Wednesday. Economists surveyed by The Wall Street Journal expect housing starts climbed 0.1% in June.

Global oil benchmark Brent crude rose by 0.8% to $64.88 a barrel. Gold was down by 0.6%.

Write to Lauren Almeida at lauren.almeida@wsj.com

(END) Dow Jones Newswires

July 17, 2019 06:35 ET (10:35 GMT)