In corporate news, Indenix Pharmaceuticals shares surged 12 percent on positive testing news for its hepatitis C drug IDX184.

Tesla Motors jumped 5 percent on an upgrade from Goldman Sachs.

Adobe Systems fell 5 percent after it cut its full-year revenue outlook, suggesting that weak demand in Europe could affect sales of recently launched versions of its popular design software.

Procter & Gamble forecast that annual earnings for its coming fiscal year would be either flat or up by a mid-single digit percentage amount, with underlying sales set to show a 2 to 4 percent increase.

After stripping out foreign exchange effects, core earnings per share are expected show growth in the mid-to-high single digit percentage range in the fiscal year beginning July 1, P&G said on Wednesday.

FSI International forecast a weak fourth quarter as customers delay spending amid the global economic slowdown, sending the company's shares down 15 percent in after-hours trading on Tuesday.

Jabil Circuit forecast fourth-quarter results below analysts' estimates on Tuesday, blaming stagnating sales, but the electronics maker's shares rose on expectations that it retained a key mobile phone customer.

A Manhattan federal judge has decided against JPMorgan Chase in a lawsuit over losses on securities backed by risky home equity loans.

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