Stock futures are pointing to a slightly lower open for major indexes on Wednesday as investors respond to a slew of earnings reports from retailers and brace for a big speech later in the week by Federal Reserve Chair Jerome Powell.

The Dow rose 0.7%, or more than 325 points. The S&P 500 gained 0.1% and the tech-heavy Nasdaq composite traded nearly flat, trimming stronger gains. The S&P 500 and the Nasdaq closed at record highs on Tuesday as traders pushed rate-cut odds to 99% for the Federal Reserve's September meeting following July inflation and employment data.

Policymaker sentiment will take a front seat heading into the annual Jackson Hole central banking summit.

US stocks were mixed on Friday as Wall Street tempered its rate-cut hopes amid economic data this week that showed higher-than-expected wholesale inflation and a rise in July retail sales. A meeting between President Trump and Russian President Vladimir Putin was also in focus as traders looked for clues on how the outcome could steer markets.

The Dow Jones index dropped ahead of Friday's speech from Fed Chair Jerome Powell. Amazon and Meta stock fell Monday.

Stock futures are slightly higher Friday morning, putting major indexes on track for new records, as investors await the release of several economic reports.