U.S. stocks headed toward a moderately higher open Wednesday as investors prepared for a flurry of economic figures on employment, factory orders and the state of the service sector.

In addition to reports on worker productivity and costs, investors will be awaiting the Federal Reserve's Beige Book report on economic conditions in various parts of the country. The findings arrive two weeks before the central bank's next meeting.

Wall Street remains concerned about whether the economy will slip into recession and is hungry for any insights that could help indicate how consumers and businesses are faring. Investors expect quarterly reports Wednesday from names such as Costco Wholesale Corp., H&R Block Inc. and Saks Inc. Read more