- Dow, S&P 500, and Nasdaq-100 futures hovered near the flat line after the Nasdaq Composite posted back-to-back record highs.
- A potential thaw in US-Iran relations sent oil lower, with Brent crude futures trading below $100 a barrel and WTI below $90.
- Trump is expected to greet Xi Jinping at Joint Base Andrews, kicking off Xi's first visit to Washington, D.C., in 11 years; experts expect no major policy breakthroughs.
- The dollar held near a two-month high at a dollar index of 100.56 as markets weighed near-term rate hikes alongside easing oil prices.
- The economic calendar includes September preliminary S&P Global US manufacturing PMI at 53.6 expected and services PMI at 56 expected, plus Cintas, General Mills, and Cracker Barrel earnings.
Quotes
“Stock index futures were little changed on Tuesday as President Donald Trump raised the prospect of a negotiated end to the U.S. conflict with Iran.”
“US stock futures went nowhere on Wednesday morning as investors monitored US diplomatic efforts with Iran and China, as well as a recent rally in tech stocks.”
“The dollar steadied near its strongest level in two months on Wednesday on prospects of interest rate hikes in the near term”