U.S. stock futures and Treasury yields were largely unmoved in early European trade while oil prices edged higher as investors weighed potential diplomatic progress in the Middle East.
Brent crude contracts rose by 0.5% but held just below $100 a barrel, while West Texas Intermediate contracts nudged back above $90 a barrel. American and Iranian diplomats met in New York on the sidelines of the United Nations General Assembly, the first meeting between high-level representatives since June. U.S. President Trump told reporters the countries' delegations "had a very good meeting," after earlier telling the assembly that a deal wouldn't come until after the Midterm elections in November.
Longer-dated Treasury yields were little moved as investors increasingly priced in near-term Federal Reserve rate hikes. That increased confidence lifted the dollar, which traded close to an eight-week high. Ten-year Treasury yields edged 0.9 basis points lower to 4.961%, while 30-year yields hovered around 5.300%.
Futures for major U.S. indexes all nudged higher after an erratic day of trade Tuesday. S&P 500 futures and Dow Jones Industrial Average futures both nudged up by 0.1%. Chip stocks were steady premarket after the Nasdaq closed at another record high Tuesday, with futures for the index edging up 0.05%.
Investor concerns that artificial intelligence would empower consumers to switch providers caused a selloff in so-called "consumer inertia" stocks Tuesday, but the trades main losers--including the New York Times and insurance group Allstate--were steady in premarket trade Wednesday.
Equity markets were mixed in Asia Wednesday, with indexes in mainland China and Hong Kong both falling, while South Korea's Kospi edged up 0.4%. The European-wide Stoxx 600 climbed 0.3% as banking and tech stocks rallied on the continent.
Bitcoin slipped but held above $86,000. Gold also pulled back, but prices remained above $4,300 a troy ounce.
For the day ahead, investors will continue to look for headlines generated by the General Assembly in New York. Progress over a de-escalation between Ukraine and Russia will be in focus.
Grain prices fell sharply Wednesday morning, following reports that officials from the U.S., Europe and Ukraine were meeting to discuss proposals to offer Moscow.
September flash PMI data from across the globe are also due Wednesday, while Federal Reserve policymaker Michael Barr will speak later, too.
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