(Editor’s note: The lede, headline, futures and ETFs data were updated.)

U.S. stock futures were mixed on Wednesday, as the Dow Jones index slipped, the Nasdaq 100 and S&P 500 indices gained, following Tuesday’s mixed close.

This comes as the U.S. military said it intercepted a surprise Iranian missile attack after U.S. Central Command, or CENTCOM, said Iran launched multiple ballistic missiles at U.S. forces in the Middle East, reviving concerns over Middle East stability and global energy supplies.

Additionally, President Donald Trump told reporters aboard Air Force One on Monday that the U.S. should have the lowest interest rate in the world.

Investors are eagerly waiting for the Federal Open Market Committee decision on interest rates today as Fed Chair Kevin Warsh eliminated any forward-looking guidance during his last speech.

Despite no forward guidance, the CME Group’s FedWatch tool’s projections show markets pricing a 70.6% likelihood of the Federal Reserve leaving the current interest rates unchanged.

Meanwhile, the 10-year Treasury bond yielded 4.61%, and the two-year bond was at 4.30%.

Consumer staples, health care, and materials stocks recorded the largest gains on Tuesday as most S&P 500 sectors ended in positive territory, though energy and information technology shares bucked the broader trend to close lower.

Professor Jeremy Siegel views the U.S. economy and stock market as facing a “more balanced environment” characterized by solid underlying strength alongside near-term market friction.

Siegel highlights that fundamental economic data points toward a healthy expansion, noting exceptionally strong labor conditions and stable growth. However, rising energy costs present a key macroeconomic challenge.

Regarding monetary policy, Siegel expects the Federal Reserve to hold interest rates steady, though he anticipates the Fed will have to navigate ongoing money supply expansion and persistent inflation risks.

While long-term fundamentals remain favorable, Siegel stresses that “the bar for positive surprises has become considerably higher” due to elevated valuations, rising real yields, and higher oil prices.

Ultimately, Siegel expects future equity gains to require greater selectivity and disciplined attention to valuation

Here’s what investors will be keeping an eye on this Wednesday.

Crude Oil WTI futures were trading higher in the early New York session by 3.18% to hover around $81.75 per barrel.

Gold Spot US Dollar rose 0.27% to hover around $4,039.51 per ounce. The U.S. Dollar Index spot was 0.07% lower at the 101.3480 level.

Meanwhile, Bitcoin (CRYPTO: BTC) was trading 1.39% higher at $64,305.37 per coin over the last 24 hours.

Asian markets closed mixed on Wednesday, as Japan’s Nikkei 225 and South Korea’s Kospi indices fell. Australia’s ASX 200, Hong Kong’s Hang Seng, India’s Nifty 50, and China’s CSI 300 indices rose. European markets were mostly lower in early trade.

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