Investing.com - U.S. stock markets pointed to more gains at the open on Wednesday, one day after the S&P 500 and Dow rose to all-time highs amid hopes for more stimulus in Japan and easing concerns over political uncertainty in the U.K.
The blue-chip Dow futures inched up 16 points, or 0.09%, by 10:54GMT, or 6:54AM ET, the S&P 500 futures tacked on 3 points, or 0.12%, while the tech-heavy Nasdaq 100 futures added 9 points, or 0.18%.
A broad rally lifted the S&P 500 and Dow to record highs on Tuesday, while the Nasdaq turned positive for the year.
Global markets continued their post-Brexit recovery Wednesday amid hopes of further monetary policy easing.
Asian shares came within reach of their 2016 highs as prospects of accommodative economic policy in major markets whet investors' risk appetite.
Meanwhile, U.K. and European stocks edged higher for the fifth consecutive session as the selection of a U.K. Prime Minister eased political uncertainty.
Home Secretary Theresa May is set to be installed as the U.K.'s new prime minister by Wednesday evening London time, replacing David Cameron who resigned after the Brexit vote last month.
May said she plans to set up a new government department to lead the process of withdrawing the country from the European Union. However, it remains unclear when Article 50, which initiates the withdrawal process from the EU, will be triggered.
Market players awaited comments from a few Fed officials later in the session to judge the balance of opinion among policymakers on the prospect of further rate hikes.
Dallas Fed President Rob Kaplan is due to speak on the world economy at the World Affairs Council of Houston at 13:00GMT, or 9:00AM ET. Philadelphia Fed President Patrick Harker and Cleveland Fed President Loretta Mester are also scheduled to deliver comments later in the day.
In addition, the Fed will release its Beige Book survey of current economic conditions due at 18:00GMT, or 2:00PM ET.
Two senior Fed officials said Tuesday that despite last week's better-than-expected U.S. nonfarm payroll data, the central bank should be in no rush to raise interest rates.
In other economic news on Wednesday, the import price index for June comes out at 12:30GMT, or 8:30AM ET, while the Federal budget for the same month is due at 2:00PM ET.
Companies slated to release earnings results on Wednesday include, Yum! Brands (NYSE:YUM) and CSX (NASDAQ:CSX), both due after the closing bell.
Elsewhere, oil prices pushed lower on Wednesday, amid speculation weekly supply data due later in the session will show U.S. crude inventories rose unexpectedly last week.
The U.S. Energy Information Administration will release its weekly report on oil supplies at 14:30GMT, or 10:30AM ET, Wednesday. After markets closed Tuesday, the American Petroleum Institute, an industry group, said that U.S. oil inventories rose by a surprising 2.2 million barrels in the week ended July 8.