Markets

US Futures Flat Ahead of Fed Minutes

U.S. stock futures were practically unchanged on Wednesday as traders stayed on the sidelines and looked ahead to the release of the minutes from the latest FOMC meeting and also to President Donald Trump's meeting with China's Xi Jinping.

Oil prices nudged higher with global benchmark Brent crude up 0.94% recently, and U.S. benchmark West Texas Intermediate up 0.98% after industry data showed a larger-than-expected draw in U.S. crude stockpiles last week.

Data released at 8:30 a.m. showed ADP employment report came in at 263,000 in March, compared to the 170,000 level seen by forecasters and to February's strong 298,000, according to data compiled by Econoday.

At 10:00 a.m., the ISM manufacturing index is expected to 0.6 points to 57.0 in March.

At 2:00 p.m., the Federal Open Market Committee will release the minutes from its March 15 meeting.

Federal Reserve President Robert Kaplan is scheduled to give a speech.

In equities, shares of Plug Power ( PLUG ) were 83% higher pre-bell after securing a deal with Amazon ( AMZN ) for its power fuel cells and hydrogen technology.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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