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NEW YORK (CNNMoney) -- U.S. stocks were set to take another step higher Wednesday, extending gains from the previous day, as hopeful investors continue to bet that Greece will soon secure the bailout it needs to avoid a disorderly default.

The Dow Jones industrial average (INDU), S&P 500 (SPX) and Nasdaq (COMP) futures were up between 0.1% and 0.2% ahead of the opening bell. Stock futures indicate the possible direction of the markets when they open at 9:30 a.m. ET.

Investors will continue to look for news out of Greece, where leaders are hammering out the details of an austerity package. The package is necessary for the country to receive a €130 billion bailout from the European Union, International Monetary Fund and European Central Bank. Without these funds, Greece could miss a €14.5 billion bond redemption in March.

Tuesday brought reports of a proposal for public spending cuts, which gave investors reason to be hopeful. However, a meeting between Prime Minister Lucas Papademos and party leaders to discuss the austerity measures was delayed until Wednesday.

Greece facing 'dramatic dilemma'

"All eyes will be on Athens again today," said Grant Lewis, head of research at Daiwa Capital Markets in London.

U.S. stocks moved higher Tuesday, erasing earlier losses, on optimism about a Greek debt deal.

World markets: European stocks were higher in morning trading. Britain's FTSE 100 (UKX) edged up 0.1%, the DAX (DAX) in Germany added 0.6% and France's CAC 40 (CAC40) gained 0.5%.

Asian markets ended with solid gains. The Shanghai Composite (SHCOMP) spiked 2.4%, the Hang Seng (HSI) in Hong Kong increased 1.5% and Japan's Nikkei (N225) rose 1.1%.

Companies: Investors will also continue to tune in to quarterly corporate earnings on Wednesday, with results due from Sprint (S, Fortune 500), CNNMoney's parent company Time Warner (TWX, Fortune 500), CVS Caremark (CVS, Fortune 500) and Polo Ralph Lauren (RL, Fortune 500).

Following the market's close, daily deals site Groupon (GRPN) is on tap to make its first earnings report as a public company. Dow component Cisco (CSCO, Fortune 500) is also slated to report in the afternoon, as well as News Corp. (NWSA, Fortune 500) and Visa (V, Fortune 500).

Meanwhile, late Tuesday, Yahoo (YHOO, Fortune 500) announced that four longtime board members, including the chairman, are leaving the company. The departures stemmed from board discussions about "why Yahoo! was not meeting either our own expectations or those of our shareholders," wrote Chairman Roy Bostock in a letter announcing the shakeup -- including his own departure.

Economy: The Energy Information Administration will release this week's data on crude oil inventories after 10:30 a.m. ET. U.S. gas prices were at a record high in January, which analysts attribute in part to the improving economy.

Currencies and commodities: The dollar was slightly lower against the euro and the British pound, but gained ground versus the Japanese yen.

Oil for March delivery rose $1.04 to $99.45 a barrel.

Gold futures for April delivery added 70 cents to $1,749.10 an ounce.

Bonds: The price on the benchmark 10-year U.S. Treasury fell, pushing the yield up to 1.99% from 1.97% late Tuesday.