U.S. equity futures traded modestly higher on Wednesday, with investors monitoring developments in artificial intelligence, Middle East oil markets and economic data due later in the session.
Dow futures gained 41 points, or 0.1%, by 02:57 ET, while futures linked to the S&P 500 added 7 points, or 0.1%. Nasdaq 100 futures were also 0.1% higher, gaining 27 points.
Wall Street had finished the previous session with mixed results. The Dow Jones Industrial Average declined, the S&P 500 was unchanged and the Nasdaq Composite moved higher.
Vital Knowledge analysts described Tuesday’s session as “fairly quiet.” Investors continued to assess developments involving Iran, particularly their potential effects on energy markets and the outlook for inflation and interest rates.
Meta’s Muse Puts AI Back in Market Focus
Meta Platforms’ (NASDAQ:META) recently launched Muse AI agent has become a focus for technology investors following initial adoption of the product.
Semiconductor stocks have advanced alongside interest in Muse, while several financial services and travel stocks have declined as investors consider how wider use of AI agents could affect existing services.
Meta has partnered with PayPal and fintech platform Plaid to provide Muse with capabilities in areas including payments and financial planning.
Financial stocks were among the weaker areas of the U.S. market in the previous session, with the S&P 500 financial services sector declining 2%.
JPMorgan Chase, Bank of America, Raymond James and Ameriprise Financial recorded declines, while Charles Schwab and LPL Financial each fell more than 6%.
Travel-related companies also came under pressure as the market assessed the potential application of AI agents to travel planning and bookings.
Meta Shares Up More Than 20% Since Muse Launch
Meta Chief Executive Mark Zuckerberg is due to address a company conference on Wednesday, with investors likely to monitor any comments concerning Muse, AI development and the group’s investment plans.
Meta shares have gained more than 20% since Muse was launched on September 8. The increase has added more than $200 billion to the company’s market value over the period.
The event comes as major technology companies continue to allocate capital to infrastructure supporting artificial intelligence, including semiconductors and data centres.
AI safety is also expected to remain part of the wider industry discussion as companies expand the capabilities and deployment of AI systems.
Oil Prices Stay Below $100
Brent crude traded below $100 a barrel on Wednesday as investors followed diplomatic developments involving the U.S. and Iran alongside changes in regional oil supply.
President Donald Trump said U.S. representatives participated in three hours of discussions involving Iran on Tuesday. He described the talks as “very well” and “very productive.”
“I think there’s a lot of momentum for them to make a deal,” Trump said.
Separately, Saudi Arabia has restarted oil flows through its East-West pipeline following a shutdown after attacks earlier this month. Iraq has also increased crude exports.
September U.S. Business Activity Data Due
S&P Global is due to publish its preliminary U.S. PMI readings for September later on Wednesday.
The services index is expected to decline to 56.0 from 56.5 in August. The manufacturing PMI is forecast at 53.4, compared with 53.9 in the previous month.
A reading above 50 indicates that activity is expanding.
Services activity in August grew at its fastest pace in almost two years, while manufacturing was affected in part by supply disruptions.
