(Sharecast News) - Wall Street futures were in the green ahead of the bell on Wednesday after posting back-to-back gains.
As of 1230 BST, Dow Jones futures were up 0.15%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.19% and 0.13% firmer, respectively.

The Dow closed 214.16 points higher on Wednesday despite a mixed batch of economic data, while the S&P 500 and Nasdaq hit their highest point in three and a half months.

Tensions between the US and China were in focus yet again early on Wednesday after Donald Trump took to social media to say that Chinese president Xi Jinping was "very tough, and extremely hard to make a deal with!!!". Beijing has urged the White House to "return to the right track" in their trade negotiations.

Elsewhere, the US senate has begun deliberations over Trump's massive tax cut bill, with majority leader John Thune already stating he believes that state and local tax deductions narrowly agreed upon by the House will have to change if the bill wants to have a chance of making its way through the senate. Former special government employee Elon Musk again voiced his disapproval of the bill, stating it defeated the purpose of the Department of Government Efficiency's cost saving efforts. DOGE, named after a meme that became popular back in 2013, claims to have saved the American taxpayer around $170.0bn, significantly short of the "at least $2.0trn" Musk had initially promised.



On the macro front, US mortgage applications decreased by 3.9% in the week ended 30 May, according to the Mortgage Bankers Association of America, following a 1.2% decline in the previous week. Applications to refinance a home loan fell by 4%, as did applications to purchase a home.

Still to come, ADP employment change numbers will be released at 1315 BST, while S&P Global's May services and composite PMIs were slated for release at 1445 BST, and the Institute for Supply Management's May services PMI will follow at 1500 BST.

In the corporate space, shares in CrowdStrike were in the red in pre-market trading after the cybersecurity firm issued soft revenue guidance for its current trading quarter, while Hewlett-Packard traded higher after the IT giant topped expectations on both the top and bottom lines.





Reporting by Iain Gilbert at Sharecast.com

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE