U.S. stock index futures indicated a higher open Wednesday, boosted by some good news out of the housing sector.

The closely watched S&P/Case Shiller home price index, though backward-looking, indicated that April saw the third consecutive month of price increases. The report helped lift stock futures a day after another big selloff on Wall Street. though gains remained fairly tepid.

The market came under pressure on Monday on a raft of a bad news from Europe. Spain announced it had officially asked Brussels for a bailout for its beleaguered banks, and Cyprus said it was also applying for a bailout. Later in the day, credit rating agency Moody’s downgraded 28 Spanish banks.

European shares were mixed in early morning trade on Tuesday after sharp sell-offs in the previous three sessions.

In company news, News Corp is considering splitting its publishing assets, including the Wall Street Journal, from its entertainment properties, among them Fox News Channel, according to a Journal report.

Seagate Technology will be the newest addition to the Standard & Poor's 500 index, replacing Progress Energy, as of the market close Friday. Seagate shares rose more than 4 percent in premarket trading.