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Futures point to mixed open on Wall Street; Fed minutes in focus

U.S. stock index futures pointed to a mixed open on Wednesday as traders awaited the release of the Federal Reserve's latest meeting minutes.

Dow and S&P futures traded marginally higher, while Nasdaq futures held just below breakeven.

The minutes are from the June 14 meeting when the FOMC raised rates for a second time this year and revealed details on how it intends to gradually begin paring back its more than $4.5 trillion balance sheet. The markets have doubted the Fed will hike rates for a third time this year, giving just about 50 percent odds for a September rate rise.

Elsewhere on the data front, Wednesday will see factory orders for May released at around 10 a.m. ET.

On the earnings front, Yum China is scheduled to report before the bell. Herman Miller and PriceSmart are both due to report after the market close.

In Europe, the pan-European Stoxx-600 index was around 0.2 percent higher on Wednesday. In Asia, the Shanghai Composite in China closed 0.76 percent higher, while the Nikkei in Japan closed up 0.25 percent.

In oil markets, prices remained below $50 a barrel on Wednesday, as another rise in OPEC supplies appeared to limit gains while geopolitical tensions in the Middle East and the Korean peninsula put a floor under prices.

Brent crude traded at around $49.20 a barrel on Wednesday, down 0.8 percent while U.S. crude was around $46.57 a barrel, down 1.1 percent.

—CNBC's Patti Domm contributed to this report.