U.S. stock futures saw little change Wednesday, as technology shares attempted to rebound. Investors focused on the release of fresh inflation data and awaited further developments in US-Iran relations, as well as President Trump’s official visit to China.
At 4:18 p.m. (Bangkok Time), S&P 500 futures rose by 0.26%, while Nasdaq 100 futures advanced 0.78%. Meanwhile, Dow Jones Industrial Average futures edged down 0.15%.
On Tuesday, both the S&P 500 and the Nasdaq Composite retreated from recent highs, slipping by 0.16% and 0.71% respectively. The Dow, however, managed a modest gain of 0.11%. Downward pressure on equities was attributed largely to declining technology shares and strength in crude oil prices, after President Donald Trump criticized the ceasefire between the United States and Iran, characterizing it as fragile and dismissing a new proposal from Tehran.
Attention turned to the April wholesale inflation report scheduled for Wednesday morning, which is expected to offer insights into whether increasing fuel prices are broadening inflationary pressures. The prior day’s consumer inflation figures came in higher than forecast, reflecting ongoing effects from the conflict in Iran and supporting market expectations that the Federal Reserve will maintain current interest rates at its next meeting.
Geopolitical uncertainty remained in focus as President Trump headed to China for talks with President Xi Jinping, with trade and artificial intelligence expected to feature prominently in discussions. A delegation of US business leaders, including executives from Tesla and Apple, accompanied the president.
Separately, the Senate was set to vote on the confirmation of Kevin Warsh, Trump’s nominee for chairman of the Federal Reserve.
Several major companies, including Allianz, Birkenstock, Alibaba, and Nebius, are scheduled to announce earnings results before markets open on Wednesday.
