US Market | Futures Indicator: US futures point to a lower open as investors look ahead to Fed chair's speech

U.S. stock index futures were lower Wednesday morning.
At around 04:50 a.m. ET, Dow futures fell 106 points, indicating a negative open of more than 97 points. Futures on the S&P and Nasdaq were both marginally higher.

Wall Street ended Tuesday on a higher note, on the back of corporate news. Investors also reacted to a speech from President Donald Trump, when he said he wanted to reach a trade deal with China but offered no detail about how talks have evolved. Trump also blamed previous U.S. administrations for letting China “cheat” on trade. Market players are therefore weighing the prospects of a trade deal between China and the U.S.
Furthermore, investors are also waiting to hear from Federal Reserve Chairman, Jerome Powell, who will address the Joint Economic Committee at 11:00 a.m. ET.
On the data front, there will be CPI numbers at 08:30 a.m. ET and Federal Budget figures released at 02:00 p.m. ET.
In corporate news, Tencent and Cisco Systems are due to report Wednesday.

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