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U.S. stock index futures were slightly higher during morning trading Wednesday after the major averages pulled back from record highs, snapping a five-day winning streak.
Futures for the Dow Jones Industrials eked up one point to 34,957.
Futures for the S&P 500 gained 2.5 points to 4,397.
Futures for the NASDAQ Composite Index moved higher 47.5 points, or 0.3%, to 14,995.25.
The major averages are still on track to end the month higher. The S&P is up 2.4% for July, while the NASDAQ has picked up 1.1%, and the Dow has gained 1.6%.
Boeing shares climbed 3.5% in pre-market trading after the manufacturer posted its first profit since the third quarter of 2019 thanks to a rebound in aircraft deliveries.
Investors also digested a host of quarterly results from megacap tech names. Google-parent Alphabet popped more than 4% in premarket trading after the tech giant posted quarterly results, registering a 69% jump in advertising revenue.
Apple shares dipped 1.4% even after the company beat top- and bottom-line estimates and said iPhone sales surged 50% year over year. Microsoft rose 1.2% after reporting an earnings beat despite a dip in revenue from its Windows division.
The Federal Reserve will conclude its two-day meeting on monetary policy Wednesday. The Federal Open Market Committee is set to release a statement at 2 p.m. ET followed by a press conference with Chairman Jerome Powell.
The busiest week of earnings continues on Wednesday with Qualcomm, Facebook, Ford and PayPal among the names on deck. Of the S&P 500 companies that have reported quarterly results thus far, 89% have topped earnings estimates, while 86% have exceeded revenue expectations, according to data from Refinitiv.
Overseas, in Japan, the Nikkei 225 index fell 1.4%, while in Hong Kong, the Hang Seng index recovered 1.5%,
Oil prices gained 50 cents to $72.15 U.S. a barrel.
Gold prices gave back $2.90 to $1,796.90 U.S. a pound.
