US stock futures wavered around the flatline on Wednesday as investors digested the first busy day of the third-quarter earnings season and looked ahead to more corporate results this week.

By 03:31 ET (07:31 GMT), the Dow futures contract had shed 115 points or 0.3%, while S&P 500 futures and Nasdaq 100 futures were mostly unchanged.

The tech-heavy Nasdaq Composite eked out a gain of 0.2% on Tuesday, fueled by an ongoing recovery in Big Tech stocks following a period of market volatility over the summer. Shares in these companies have been buoyed by the Federal Reserve's decision to slash interest rates by an outsized 50 basis points in September.

However, Wall Street's two other major indices ended the day in the red, as investors eyed a jump in the benchmark US 10-year Treasury yield to its highest mark since July 26. In the wake of strong recent economic data and deficit fears, some traders are now attempting to gauge if the Fed will still be inclined to cut rates again this year.

The pressure from higher bond yields weighed on the benchmark S&P 500. which dropped marginally by 3 points or 0.1%. The 30-stock Dow Jones Industrial Average also inched down by 7 points or 0.02%.