Modupe Gbadeyanka
By Investors Hub
The major US index futures are pointing to a modestly lower opening on Wednesday, with stocks likely to give back some ground after trending higher in recent sessions.
Profit taking may contribute to early weakness on Wall Street, as traders cash in on the gains posted over the past few days.
Nonetheless, trading activity may be somewhat subdued as traders look ahead to remarks by Federal Reserve Chair Janet Yellen later in the day.
Stocks moved mostly higher over the course of the trading session on Tuesday, adding to the gains posted in the previous session. With the upward move on the day, the major averages climbed to new record closing highs.
The major averages all ended the day modestly higher. The Dow rose 84.07 points or 0.4 percent to 22,641.67, the Nasdaq edged up 15.00 points or 0.2 percent to 6,531.71 and the S&P 500 inched up 5.46 points or 0.2 percent to 2,534.58.
The strength on Wall Street reflected recent upward momentum, as traders seem optimistic about the economic outlook and the prospects for Republican tax reform.
