U.S. stock futures showed little direction Wednesday as traders assessed diplomatic developments involving Iran and China alongside renewed strength in technology shares. The muted trading followed fresh records for the Nasdaq Composite, keeping investor attention on whether the recent tech advance can continue.
At 4:15 p.m. (Bangkok time), contracts tied to the Dow Jones Industrial Average and the S&P 500 moved 0.02% and 0.04% higher respectively, while Nasdaq-100 futures declined 0.06%
In the prior session, the Nasdaq Composite rose 0.45%, extending its winning streak to four sessions, while setting both an intraday and closing record. The Dow declined 0.36%, and the S&P 500 ended slightly lower, dipping merely 0.06 points.
Energy markets also remained in focus after President Donald Trump said U.S. and Iranian officials held a three-hour discussion on the sidelines of the United Nations General Assembly in New York. Trump characterized the meeting positively, raising investor attention around any easing of tensions between Washington and Tehran.
Signs of improved dialogue between the U.S. and Iran pressured crude prices while supporting broader risk appetite. Brent crude, the international benchmark, was trading under $100 a barrel on Wednesday, and West Texas Intermediate slipped near $90.
Fuel policy was another point of market interest. Treasury Secretary Scott Bessent said the U.S. is reviewing whether to block diesel exports, with the national average diesel price at $6.53 a gallon, according to AAA. Bessent said officials were assessing refining capacity and whether any restriction would need to be complete or partial during a United Nations meeting between Trump and Ukrainian President Volodymyr Zelenskyy.
Markets are also watching U.S.-China diplomacy. Trump is expected to meet Chinese President Xi Jinping at Joint Base Andrews as Xi begins his first Washington, D.C., visit in 11 years. Major policy shifts are not expected by experts, though the leaders are set to discuss trade, the war in Iran, rare earths and artificial intelligence.
Technology investors are likely to track any AI-related developments. Anthropic Chief Executive Dario Amodei recently urged companies to coordinate on a slower pace of AI development. Nvidia CEO Jensen Huang, OpenAI CEO Sam Altman and Google CEO Sundar Pichai are among the Silicon Valley leaders expected to attend a Thursday dinner with Trump and Xi.
The next scheduled economic update for investors is S&P’s report on business activity.
