Tech stocks lift Nasdaq futures; Dow, S&P flat

A rise in technology stocks helped the futures grind higher on Wednesday, while the S&P and the Dow futures were little changed with investors staying focused on earnings. 

* The tech-heavy Nasdaq closed at a record high on Tuesday, with the index posting its longest streak of gains since February 2015. 

* The S&P tech sector has been the best performing sector this year despite concerns about stretched valuations as investors look for growth sectors immune to policy uncertainties. 

* Investors will also continue to focus on quarterly earnings to see if high valuations are justified in the face of mixed economic data, tepid inflation and policy gridlock in Washington. 

* Analysts estimate an 8.5 percent rise in second-quarter earnings and a 4.7 percent increase in revenue for S&P 500 companies from a year earlier. 

* This follows a robust first quarter when U.S. companies posted the fastest rate of growth in earnings since 2011, according to Thomson Reuters I/B/E/S. 

* TMobile (TMUS.O), Qualcomm (QCOM.O) and American Express (AXP.N) are among the companies that will report results after the bell. 

* Economic data expected later in the day includes housing starts for June that is likely to have increased to 1.16 million from 1.09 million in May. Building permits are forecast rising to 1.20 million from 1.17 million. The data is expected at 8:30 a.m. ET (1230 GMT).