Stock futures on Wednesday signalled a mixed yet rangebound start to the markets, following Tuesday's rally, as investors track the unfolding drama in Ukraine while awaiting crucial economic data from the U.S.

Futures on the Dow Jones Industrial Average were up 0.01 percent while futures on the S&P 500 were down 0.01 percent and those on the Nasdaq were up 0.04 percent. On Tuesday, the Dow rose 1.41 percent while the S&P 500 climbed 1.53 percent and the Nasdaq rallied 1.75 percent.

On the data front, the ADP private payroll employment report for February is due at 8:15 a.m. EST and ISM's composite index for the non-manufacturing sector is scheduled to be announced at 10 a.m.

In Europe, markets were weaker with the Stoxx Europe 600 index trading down 0.1 percent and the FTSE 100 down 0.4 percent. Germany’s DAX-30 fell 0.22 percent while France's CAC-40 was down 0.26 percent.

In Asia, markets were mixed, with Japan’s Nikkei-225 climbing 1.2 percent and Australia’s S&P/ASX 200 rising 0.85 percent. Hong Kong’s Hang Seng was down 0.34 percent while the Shanghai Composite was down 0.89 percent. South Korea’s Kospi was up 0.88 percent while India’s BSE Sensex rose 0.32 percent.