Investing.com - U.S. stock futures pointed to a modestly lower open on Wednesday morning, with the major benchmarks set to fall from the prior session's all-time highs amid disappointment following the release of Apple (NASDAQ:AAPL)'s latest iPhone.
The blue-chip Dow futures fell 17 points, or around 0.1%, by 6:40AM ET (1040GMT), the S&P 500 futures shed 4 points, or 0.1%, while the tech-heavy Nasdaq 100 futures declined 12 points, or 0.2%.
On Tuesday, the Dow Jones industrials, S&P 500 and Nasdaq Composite all finished at record levels as concerns faded about North Korean tensions as well as the impact of Hurricane Irma.
Gains were kept in check, however, by a decline in shares of Apple after it unveiled its newest line of iPhones. The stock was down around another 0.7% in premarket trade amid disappointment the company would not begin taking orders for its new $999 iPhone X model until October.
Investors are likely to turn their attention to upcoming U.S. economic data for fresh clues on the timing of the Federal Reserve's balance sheet reduction and its ability to raise interest rates again this year.
A report on producer prices is due at 8:30AM ET (1230GMT) Wednesday, followed by closely-watched consumer price inflation data on Thursday.
Markets remain skeptical the Fed will raise rates again before the end of this year due to worries over the subdued inflation outlook, but it is widely expected to start the process of reducing its balance sheet sometime this fall.
Elsewhere, European stocks pulled back, as losses for Apple suppliers helped push the regional benchmark toward its first loss in six sessions. Earlier, in Asia, markets wobbled, but still marked a 10-year peak.
Looking to commodities, oil prices posted solid gains, as investors looked ahead to the Energy Department's weekly supply report at 10:30AM ET (1430GMT).
U.S. crude was at $48.59 a barrel, up 36 cents, or around 0.8%, while Brent tacked on 29 cents to $54.56.
In currencies, the dollar registered slight losses against its major rivals, putting an end to two straight days of gains.
Meanwhile, Bitcoin sank by more than 5% to a low of $3,901 after JP Morgan chief executive Jamie Dimon called it a “fraud" at a conference late Tuesday.