U.S. stock futures edge higher as markets price 32.8% Fed hike odds

U.S. stock futures moved higher Wednesday after the S&P 500 and Nasdaq 100 closed lower Tuesday, while Dow futures edged down. Markets are seeking clues on the Federal Reserve's policy path after the central bank suspended guidance, with minutes from its July FOMC (Federal Open Market Committee) meeting due at 2:00 p.m. ET. CME Group's FedWatch tool showed a 32.8% probability of a rate hike at the September meeting. Asian markets fell sharply, led by a more than 5% drop in South Korea's KOSPI and steep losses in SK Hynix and Samsung Electronics that triggered a sell-side sidecar in Seoul. Escalating U.S.-Iran tensions pushed Brent crude above $91 a barrel after President Donald Trump ruled out talks with Tehran. U.S. Treasury yields stood at 4.68% for the 10-year note and 4.15% for the two-year note. Professor Jeremy Siegel maintained a bullish view of equities, citing strong corporate earnings, manageable oil prices and gradually improving inflation, while expecting rates to remain unchanged in September.

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