Wall Street Seen Opening On Mixed Note

(RTTNews) - Notably higher Nasdaq futures points to a firm start for tech stocks on Wall Street on Wednesday. The U.S. stock market is seen opening on a mixed note on Wednesday. Tech stocks are likely to move higher, rebounding from previous session's decline.

The Dow futures are down 0.28%, while the S&P futures and the Nasdaq futures are gaining 0.2% and 0.66%, respectively.

Investors are looking ahead to the summit meeting in Beijing on Thursday between U.S. President Donald Trump and Chinese President Xi Jinping. Discussions on trade, technology, rare earth export controls, Taiwan, the Iran war, and artificial intelligence form part of the agenda.

US President Donald Trump has warned that the United States would "finish the job" if Iran refuses Washington's terms to end the war and address its nuclear program.

"They'll either do the right thing, or we'll finish the job," Trump said before departing the White ?House for his high-stakes visit to China.

On the economic front, producer price inflation data for the month of April is due at 8:30 AM ET.

On Tuesday, data from the Labor Department showed the annual rate of growth by consumer prices accelerated to 3.8% in April from 3.3% in March, reflecting sharply higher energy prices.

U.S. stocks closed mostly lower on Tuesday, despite climbing off their worst levels of the day. The Nasdaq ended down by 0.7% at 26,088.20 and the S&P 500 slipped 0.2% to 7,400.96, while the Dow inched up 0.01% to 49,760.56.

In overseas trading, Asian stocks turned in a mixed performance on Wednesday as strong momentum in technology stocks helped investors look past concerns over rising U.S. inflation and the Middle East tensions.

European stocks are broadly higher with investors largely reacting to earnings updates and regional economic data. The U.K.'s FTSE 100 is up marginally, and Germany's DAX is rising 0.7%, while France's CAC 40 is down by about 0.37%. The pan European Stoxx 600 is up nearly 0.3%.

In commodities, West Texas Intermediate crude oil futures are up $0.10 at $102.28 a barrel. Gold futures are gaining $14.50 or 0.31% at $4,701.20 an ounce.