Source: Sharecast
As of 1225 BST, Dow Jones futures were up 0.13%, while S&P 500 and Nasdaq-100 futures had the indices open 0.12% and 0.10% firmer, respectively.
The Dow closed 165.60 points lower on Tuesday as Donald Trump made a number of new updates to his tariff policy.
Trump said that there would be no change or extensions to duties that he has slapped on 14 countries, including Japan and South Korea, with the new tariff rates, ranging from 25% to 40%, set to come into effect on 1 August.
He announced a 50% levy on copper imports and seemed to indicate that further sector-specific tariffs would soon be announced. Trump also threatened to a 200% tariffs on pharmaceuticals imported into the US, but said that he would "give people about a year, year and a half" until those tariffs were instituted.
Rostro's Joshua Mahony said: "US markets are taking a somewhat cautious tone this week following Monday's initial gains in the wake of Trump's tariff deadline extension. Unfortunately, we have since seen a raft of announcements that suggest that tariffs are set to move significantly higher, with the President stating that this will be the final deadline, with tariffs kicking in on 1 August."
On the macro front, US mortgage applications surged 9.4% in the week ended 4 July, according to the Mortgage Bankers Association of America, extending the prior week's 2.7% increase. The increase marked a third consecutive weekly growth in applications, the longest streak since December, and came as benchmark mortgage rates dropped to their lowest level since April.
Still to come, May wholesale inventories figures will be published at 1500 BST, while minutes from the Federal Reserve's most recent two-day policy meeting were scheduled for release at 1900 BST.
Reporting by Iain Gilbert at Sharecast.com