Source: Sharecast
As of 1130 BST, Dow Jones futures were up 0.33%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.23% and 0.03%, respectively.
The Dow closed 61.90 points lower on Tuesday, taking a bite out of gains recorded in the previous session, as Donald Trump threatened to impose tariffs of as much as 250% on pharmaceuticals imported into the US, and the Institute for Supply Management's services PMI unexpectedly fell in July.
Rostro's Joshua Mahony said: "Yesterday's ISM services PMI report provided yet another reminder of the price pressures that remain inherent within the US economy right now, with the latest jump in the 'prices paid' metric taking it to the highest level since October 2022. Coupled with the continued deterioration in the ISM services employment figure (46.4), we can see that the Fed do face a difficult position where a weak jobs market has pushed them towards a dovish turn despite ongoing inflation concerns."
On Wednesday's macro slate, monthly US mortgage applications were scheduled for release at 1200 BST.
In the corporate space, Disney, McDonald's, Uber and Shopify were all set to report earnings before the open, while DoorDash and Airbnb earnings will be published after the close.
Reporting by Iain Gilbert at Sharecast.com