Early indicators from the U.S. Futures Index hint at a modest uptick for Wall Street's opening.
During the Asian trading session, gold prices saw a slight decline. However, oil futures continued to rise, influenced by indications of reduced U.S. inventories and OPEC's optimistic projection for robust growth in global oil demand.
Asian markets closed predominantly higher, while European markets also showed positive movement.
As of 8:10 AM ET, Dow futures had risen by 49 points, S&P 500 futures had gained 8 points, and Nasdaq 100 futures had advanced by 30 points.
In the previous trading session on Tuesday, the Nasdaq climbed 151.07 points, or 0.9%, to 17,343.55. The S&P 500 increased by 14.53 points, or 0.3%, to 5,375.32, although the Dow Jones Industrial Average fell by 120.62 points, or 0.3%, to 38,747.42.
On the economic calendar, the Consumer Price Index (CPI) for May is scheduled for release at 8:30 AM ET.
The Energy Information Administration (EIA) will issue its Petroleum Status Report for the week at 10:30 AM ET. The previous week saw crude oil inventories rise by 1.2 million barrels, with gasoline inventories increasing by 2.1 million barrels.
A 4-month Treasury bill auction is set for 11:30 AM ET.
The Federal Open Market Committee (FOMC) meeting announcement is expected at 2:00 PM ET, with no changes anticipated for the June meeting.
The Treasury Statement for May will also be published at 2:00 PM ET. Projections suggest a deficit of $240.3 billion, compared to the previous month's surplus of $209.5 billion.
Federal Reserve Chair's press conference is slated for 2:30 PM ET.
Asian stock movements were mixed on Wednesday. China's Shanghai Composite edged up by 0.31% to close at 3,037.47. Conversely, Hong Kong’s Hang Seng Index dropped by 1.31% to 17,937.84.
Japan's markets faced declines, with the Nikkei average decreasing by 0.66% to 38,876.71 and the broader Topix index falling by 0.73% to 2,756.44.
In Australia, the markets also ended lower. The benchmark S&P/ASX 200 slid by 0.51% to 7,715.50, while the broader All Ordinaries index decreased by 0.53% to 7,963.10.
