US Markets

Wall Street looks set to build on record close

Wall Street looked set to open higher on Wednesday, with stock-index futures in the black after the closed above 2,000 for the first time.

Shares of Tiffany rose in early New York trading after the high-end jeweler reported quarterly earnings above estimates and hiked its full-year outlook.

Investors will be watching to see if the benchmark index can hold onto the 2,000 mark again on Wednesday.

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The Mortgage Bankers Association reported mortgage applications rose 2.8 percent last week from the week earlier.

The Treasury is scheduled to auction $35 billion in and $13 billion in 2-year floating-rate notes.

Geopolitical events remained in focus, with Israel and Gaza militants agreeing to a full open-ended ceasefire on Tuesday.

However, there was no breakthrough in talks between Russia and Ukraine, although both sides agreed that there was an urgent need to de-escalate the conflict in eastern Ukraine.

Wall Street's record highs in Tuesday's session were sparked by better-than-expected economic reports. Consumer confidence hit its highest level since 2007 in August and durable goods orders posted their biggest gain on record in July.

"The risk trade remains the trade for investors and traders alike, and dips remain shallow and lack conviction," Evan Lucas, a market strategist at brokerage IG said in a research note.

"I see this trend continuing until the end of December, as policies are locked in and momentum continues."

—By CNBC's Katy Barnato