Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., Sept. 16, 2026.
Jeenah Moon | Reuters
U.S. equity futures were little changed early Wednesday, as oil prices fluctuated amid fresh uncertainty around the war between the U.S. and Iran.
S&P 500 futures were marginally higher as of 5 a.m. ET, while Nasdaq-100 futures dipped below the flatline. Futures tied to the Dow Jones Industrial Average were up 0.04%.
Futures tied to the major averages all pared back from earlier gains after Brent crude oil futures moved higher, erasing earlier losses seen overnight. Brent futures for November delivery were last seen trading around 0.4% higher at $99.60 a barrel, while U.S. West Texas Intermediate futures were down 0.5% at $90.04 per barrel.
Crude oil futures
President Donald Trump said Tuesday that U.S. and Iranian officials met for three hours during the annual United Nations General Assembly gathering in New York. He described it as a “very good meeting.”
Earlier Tuesday in his address to the U.N., Trump said he has a “big decision” over whether to reach a deal with Tehran or “annihilate” the country.
In Tuesday’s regular trading, the Dow fell 0.4%, and the Nasdaq Composite gained 0.5%, marking its fourth positive session in a row. The tech-heavy index hit a new all-time intraday high and closed at a record. The S&P 500 finished marginally lower, but remains about 0.7% off from its all-time high.
Brett Ewing, chief market strategist at First Franklin Financial Services, told CNBC he thought the S&P 500 could hit 8,200 before the year is through.
“Our call at the beginning of the year was 8,000 on the S&P. We raised our target, believe it or not, in August to 8,200 by year-end,” he said.
Treasury Secretary Scott Bessent said Tuesday that the U.S. is deciding whether to prohibit exports of diesel, which reached a national average price of $6.53 per gallon, according to AAA.
“We’re examining whether it’s feasible in terms of the overall refining capacity and whether a full or partial ban would work,” Bessent said during a bilateral meeting between Trump and Ukrainian President Volodymyr Zelenskyy at the United Nations.
Going into Wednesday, traders will be watching earnings results from General Mills, Paychex and H.B. Fuller.
In Asia-Pacific, South Korea’s Kospi rose 0.9%, while Australia’s benchmark S&P/ASX 200 inched higher. Mainland China’s CSI 300 closed 0.6% lower. Japan’s markets were closed for a holiday.
European shares were broadly lower Wednesday morning, with the Stoxx 600 pulling back from earlier gains as Brent crude oil prices resumed their rally.
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