While investors have been breathing a cautious sigh of relief in recent days as Hurricane Irma wasn't as volatile and catastrophic as predicted, market watchers remain on edge as the next hurricane is expected to make landfall soon.
When it comes to data, mortgage applications jumped nearly 10 percent last week amid the lowest rates in almost a year. The Producer Price Index rose 0.2 percent in August, less than expected. ET. The Treasury budget release will then follow, due out at 2 p.m. ET.
Elsewhere in individual stock news, Apple had its latest consumer products event on Tuesday, where investors were waiting with bated breath over what the company would launch next.
At the event, the tech giant revealed its latest iPhone called the iPhone X, which has prices starting from $999 and will ship from November. The company also put on display its new iPhone 8 and 8 Plus, a new Apple Watch and their Apple TV 4K.
Overseas, European stocks were trading under pressure in early market trade, while markets in Asia closed on a mixed note.