In this July 6, 2015 file photo, an American flag is draped on the exterior of the New York Stock Exchange. (AP Photo/Mark Lennihan, File)

U.S. stock futures were higher Wednesday, and Asian stock markets were mostly up as Japan gained on stimulus hopes.

Here is where major market index futures stood ahead of the start of regular trading:

Dow: +0.2%

S&P 500: +0.2%

Nasdaq:  +0.2%

Japan's Nikkei 225 index rose 1.9% while the Shanghai composite index plunged 3.1% following a late sell-off of heavy industrials. Hong Kong's stock market was closed for a public holiday.

European shares were mostly lower in early trading Wednesday.

Investors took an upbeat stance on disappointing trade figures for September, when weak exports led to a 114.48 billion yen ($955 million) trade deficit in September. A 3.5% year-on-year drop in exports to China underscored the challenges to Japan’s own recovery. But investors may be counting on moves by the central bank to counter those trends with more stimulus measures.

After spending much of the day in positive territory, the Shanghai index took a hit from heavy selling of heavy industrials such as Zoomlion Heavy Industry Science and Technology Co., which has forecast weaker earnings due to slack demand.

U.S. stocks snapped a three-day winning streak Tuesday as weak company earnings and outlooks weighed on the market.

Contributing: Associated Press

Shares of Tile Shop Holdings surged 14% Tuesday after the stone tiles retailer reported better-than-expected earnings.

Net income jumped to $3.9 million from $1.6 million a year ago. Earnings per share totaled 8 cents, beating analysts' consensus estimate of 6 cents compiled by Zacks Investment Research.

Shares of the company, based in Plymouth, Minn., rose $1.90 to end the day at $14.91.

Sales for the quarter rose 15.3% to $72.4 million. Same-store sales increased 9.7%.

Relying less on discounts, the company said it was also able to boost its gross profit margin during the quarter.

Shares of Sonic Corp. rose 11% Tuesday after the fast food chain reported higher fourth quarter sales and earnings that beat analysts' estimates.

Net income increased 23% from a year ago to $23.1 million. Earnings per share totaled 43 cents, higher than analysts' consensus estimate of 42 cents compiled by Zacks Investment Research.

Shares of the Oklahoma City-based company rose $2.91 to $29.53 as of Tuesday morning.

Revenue for the quarter rose 7% to $175.3 million. It missed Zacks’ consensus estimate of $176 million. Same-store sales rose 4.9% during the quarter, which was comprised of a 4.9% same-store sales increase at franchise drive-ins and an increase of 4.5% at company drive-ins.

Sonic CEO Clifford Hudson said the company has "returned substantial capital to shareholders" by buying back $124 million of its stock this year, representing 7.4% of the outstanding shares. 

A close-up view of a 1977 Harley Davidson 12000cc Electraglide motorcycle one of the rare and historic motorcyles being auctioned by Bonhams at the Classic Motorcycle Mechanics Show at Staffordshire Showground, on October 16, 2015 in Stafford, England.

Harley-Davidson (HOG) shares are down more than 15% Tuesday after the company reported disappointing quarterly results and lowered its guidance.

The maker of motorcycles reported flat adjusted earnings per share of 69 cents a share, falling short of estimates by 10%. The company expected to ship between 265,000 and 270,000 motorcycles this year, which is flat to down 2% from 2014’s levels.

Shares of Harley are down $8.89, or 15.9%, to $47.16 Tuesday.

Follow Matt Krantz on Twitter @mattkrantz

Shares of International Business Machines plunged nearly 5% in pre-market trading Tuesday after offering a weak outlook for the year.

IBM says it expects to finish the fiscal year with earnings between $14.75 and $15.75 a share, below the range of $14.99 to $15.87 predicted by analysts, according to Thomson Financial.

For the third quarter, earnings reached $3.34, topping Wall Street forecasts but falling 9% year-over-year. Revenue slipped 14% to $19.3 billion, missing analyst forecasts.

IBM is among several PC companies making the transition away from hardware to services aimed at mobile products and the cloud. Last year, IBM announced a partnership with Apple to deliver a variety of enterprise services to businesses using iPads and iPhones.

“We are continuing to make significant investments to build platforms around analytics, cloud, mobility and security that lay the foundation for a new era of cognitive business — where we see long-term value for our clients and shareholders,” said IBM CEO Ginni Rometty in a statement.

Follow Brett Molina on Twitter: @brettmolina23.