As the nation remembers George Herbert Walker Bush, the New York Stock Exchange and Nasdaq are closed Wednesday, with stock trading resuming Thursday on a normal schedule. The U.S. Treasury market is also closed Wednesday.
The ADP jobs data, normally released on Wednesdays, and the Labor Department's productivity report are postponed until Thursday. Federal Reserve Chairman Jerome Powell's testimony to the Joint Economic Committee of Congress has also been postponed.
Trading in energy and metals futures are open for their normal hours Wednesday.
Wednesday is a National Day of Mourning in honor of Bush, the country's 41st president.
A state funeral for Bush, who died Friday at 94, will be held Wednesday morning at Washington National Cathedral. The last presidential funeral was in 2007 for Gerald Ford.
U.S. stock index futures are open until 9:30 a.m. ET, and reopening Wednesday evening at 6 p.m. ET as normal.
Equity futures were higher Wednesday morning after the Dow Jones Industrial Average tanked nearly 800 points, or 3 percent, on Tuesday in the biggest decline since the October rout as investors worried about a bond-market phenomenon signaling a possible economic slowdown. Lingering worries around U.S.-China trade also added to the jitters. The Dow and were able to stay out of a correction, but Tuesday's decline sent the Nasdaq back into correction territory.
The massive sell-off on Wall Street spilled over into global markets, with stocks in Asia and Europe mostly in the red Wednesday morning.