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Persian Gulf Outlook, Tech Strength Hoist Wall Street Pre-Bell; Asia Up, Europe Flat

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Wall Street futures pointed moderately higher pre-bell Wednesday on media reports of possible 60-day ceasefire in the Persian Gulf, and a generally strong earnings season.

In the futures, the S&P 500 rose 0.4%, after setting a record-high close on Tuesday. The Nasdaq was flat in the futures, but the Dow Jones was up 0.4%, also after notching a record zenith overnight.

Arista Networks (ANET) traded up 12.4% pre-bell after the cloud-networking services provider reported Q2 EPS and revenue above expectations, and boosted guidance, late Tuesday.

Asian exchanges traded mostly higher overnight, as tech rallies followed on lower oil prices.

European bourses tracked sideways midday on the continent.

On the economic calendar is the ADP Employment Report for July at 8:15 am ET, followed by the S&P Global US purchasing mangers index final for July at 9:45 am.

The ISM final services index for July logs at 10 am, followed by the weekly EIA petroleum status bulletin at 10:30 am.

Federal Reserve Governor Lisa Cook and San Francisco Fed President Mary Daly are slated to speak on Wednesday.

In pre-market action, Bitcoin traded at $64,080, West Texas Intermediate crude oil traded near $76.31 a barrel, and 10-year US Treasuries offered 4.62%. Spot gold commanded $4,222 an ounce.

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