Market Movements: Investors Poised as Middle East Tensions Ease and Fed Awaits Clarity

U.S. stock futures remained relatively stable on Wednesday as the Nasdaq 100 achieved a record high after Israel and Iran indicated the conclusion of their air conflict. Investors are now keenly awaiting further comments from Federal Reserve Chair Jerome Powell.

The three major indexes recorded over 1% increases on Tuesday, with the S&P 500 index nearing its historic peak. This optimistic outlook was largely driven by the de-escalation in Middle East hostilities, which bolstered risk appetite, as well as lower oil prices that keep rate cut prospects on the horizon for this year, according to Deutsche Bank's Jim Reid.

As Powell continues his congressional testimony, analysts will be tuning in for signals regarding the Fed's monetary policy direction, especially following his recent remarks on the current stance toward interest rates. Meanwhile, noteworthy corporate movements included a drop in FedEx shares due to disappointing profit forecasts, while Micron Technology and Blackberry witnessed gains ahead of crucial company updates.

(With inputs from agencies.)