U.S. stock index futures pointed to a slightly higher open on Wednesday, as investors remained cautious over choppiness in the oil market, while looking ahead to the Federal Reserve meeting next week.
Markets have been choppy in recent sessions, with speculation over when the U.S. central bank could next raise interest rates keeping investors on edge.
In recent days, several Fed officials have made their case on how the central bank should act, with Fed Governor Lael Brainard , saying on Monday that it would be wise for the Fed to keep monetary policy loose.
Goldman Sachs recently trimmed the odds of the Fed raising interest rates when it meets, noting the absence of a clear indication that the central bank's rate-setting group was set to tighten policy.
Meanwhile, crude futures showed some signs of recovery on Wednesday. Prices slightly rose in early trade after data by the American Petroleum Institute showed a smaller-than-expected build in U.S. crude stockpiles.
U.S. West Texas Intermediate last stood around $45.12 per barrel, while Brent hovered around $47.25 a barrel. Investors will now be looking ahead to 10.30 a.m. ET today, when the latest crude inventories data is expected.
Elsewhere on the data front, U.S. import and export price indexes are expected to keep investors on edge, as its latest data is released at 8.30 a.m. ET.
When it comes to earnings, Cracker Barrel (CBRL) and CLARCOR (CLC) are set to report on Wednesday. Apogee Enterprises (APOG) and Apigee (APIC) are also expected to post results.
European stocks traded mostly higher in its morning session, while Asia-Pacific indexes were mostly lower overnight. In the previous session, U.S. markets closed sharply lower.
By: CNBC.
Photo: Yahoo.
Review: Emerging Market Formulations & Research Unit, FLAGSHIP RECORDS.
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