U.S. stock index futures pointed to a slightly higher open on Wednesday morning as investors continued to digest comments from Federal Reserve Chair Janet Yellen and looked ahead to new announcements on tax reforms.
Federal Reserve Chair Janet Yellen said Tuesday it would be "imprudent" to keep monetary policy on hold waiting for inflation to reach 2 percent. The quite hawkish remarks sent the dollar and U.S. bonds higher as investors grew confident of another rate hike in December.
Meanwhile, investors will be looking for details from U.S. President Donald Trump, who is due to speak on his plans for tax cuts Wednesday. The much-anticipated tax reform package is expected to be presented during a speech in Indianapolis, at 3 p.m. ET.
The U.S. dollar index traded more than half a percent higher to 93.55, its highest in more than a month, according to Reuters.
Pending home sales figures are due at 10 a.m. ET.
In Europe, markets edged higher on merger news and also on hopes of monetary policy tightening in the U.S.
In oil markets, Brent crude traded at around $58.23 a barrel on Wednesday morning, down 0.36 percent, while U.S. crude was flat at $51.89 a barrel.