U.S. stock futures remained flat Wednesday evening after a mixed trading session, as markets digested geopolitical developments and Federal Reserve updates. S&P 500 Futures hovered at 6,145.25, Nasdaq 100 Futures stayed muted at 22,455.75, and Dow Jones Futures held at 43,302.0.
Investor sentiment was shaped by a fragile ceasefire between Israel and Iran, announced by President Trump earlier in the week. The multi-stage truce followed 12 days of airstrikes and appeared to be holding as of Wednesday. U.S. Secretary of State Marco Rubio claimed Iran's nuclear capabilities were now "much further" from fruition, despite intelligence assessments suggesting only a short-term delay.
Trump signaled that upcoming talks would pressure Iran to abandon its nuclear ambitions, crediting U.S. airstrikes for the quick resolution of the conflict.
On Wall Street, the S&P 500 closed flat, staying near record highs. The NASDAQ gained 0.3%, while the Dow slipped 0.3%. NVIDIA (NASDAQ: NVDA) surged to a record high after Loop Capital raised its price target to $250, citing strong AI chip demand. Meanwhile, FedEx (NYSE: FDX) dropped over 3% after missing profit forecasts.
Federal Reserve Chair Jerome Powell returned to Capitol Hill, maintaining a hawkish stance and warning that inflation driven by tariffs may not be temporary. His comments did little to shift expectations on rate policy but highlighted tensions with President Trump, who criticized Powell’s position and hinted at potential replacements.
Names reportedly under consideration include former Fed governor Kevin Warsh, NEC director Kevin Hassett, Treasury Secretary Scott Bessent, ex-World Bank chief David Malpass, and current Fed governor Christopher Waller.
Investors remain cautious as global tensions and central bank uncertainty cloud the economic outlook.


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