U.S. stock futures were higher on Wednesday, as the Dow Jones, Nasdaq 100 and S&P 500 indices rose, following Tuesday’s higher close.
On Tuesday, President Donald Trump stated that U.S. strikes in Iran would continue into the next week, warning of “very hard” hits as Strait of Hormuz tensions escalate. He declared that "Oil is flowing like never before" due to American military operations keeping the shipping lane open.
Investors await the June producer price index data scheduled to be released before the market opens.
Meanwhile, the 10-year Treasury bond yielded 4.60%, and the two-year bond was at 4.20%. The CME Group’s FedWatch tool’s projections show markets pricing an 85.6% likelihood of the Federal Reserve leaving the current interest rates unchanged during July’s meeting.
The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 and Nasdaq 100, respectively, were higher in premarket on Wednesday. The SPY was up 0.25% at $753.68, while the QQQ advanced by 0.50% to $723.30.
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