U.S. Futures Edge Higher as Investors Monitor Meta's Muse and Oil Prices: Dow Jones, S&P, Nasdaq, Wall Street

U.S. stock futures moved slightly higher on Wednesday as investors monitored developments around Meta Platforms’ (NASDAQ:META) Muse AI agent, Middle East diplomacy and upcoming U.S. business activity data.

At 02:57 ET, Dow futures were up 41 points, or 0.1%, while S&P 500 futures gained 7 points, or 0.1%. Nasdaq 100 futures also rose 0.1%, adding 27 points.

The major Wall Street indices recorded mixed performances in the previous session. The Dow Jones Industrial Average declined, the S&P 500 was unchanged and the Nasdaq Composite advanced.

Analysts at Vital Knowledge described Tuesday’s trading as “fairly quiet,” with investors also following developments surrounding the conflict with Iran and their potential implications for energy prices, inflation and interest rates.

Meta’s Muse Draws Investor Attention

Artificial intelligence remains another focus following the launch of Meta’s Muse AI agent earlier in September.

Initial adoption of the app has coincided with gains in semiconductor stocks, while shares of some financial services and travel companies have declined amid investor assessments of how AI agents could affect their businesses.

Muse has partnered with companies including PayPal and financial technology platform Plaid for services involving areas such as payments and financial planning.

The S&P 500 financial services sector fell 2% in the previous session. JPMorgan Chase, Bank of America, Raymond James and Ameriprise Financial were among the stocks that declined, while Charles Schwab and LPL Financial each fell more than 6%.

Travel-related stocks also came under pressure as investors considered the potential use of AI agents for planning and booking trips.

Zuckerberg Due to Speak at Meta Event

Meta Chief Executive Mark Zuckerberg is scheduled to speak at a company event on Wednesday, with Muse and Meta’s broader AI strategy expected to be among the areas followed by investors.

Meta shares have risen more than 20% since Muse was released on September 8, adding more than $200 billion to the company’s market capitalisation over the period.

Attention is also likely to remain on the industry’s approach to AI safety and the level of investment required to develop the technology.

Meta and other large technology companies have announced substantial spending plans for AI infrastructure, including data centres and semiconductors.

Brent Crude Remains Below $100

Brent crude remained below $100 a barrel on Wednesday as markets followed diplomatic developments involving the U.S. and Iran and changes in Middle East oil supply.

President Donald Trump said U.S. representatives had held three hours of discussions involving Iran on Tuesday and described the talks as “very well” and “very productive.”

“I think there’s a lot of momentum for them to ⁠make a deal,” Trump said.

Saudi Arabia has also restarted supplies through its East-West pipeline after it was shut following attacks earlier in September, while Iraq has increased oil exports.

U.S. PMI Data Awaited

Investors are also awaiting S&P Global’s preliminary U.S. business activity data for September.

The services PMI is expected to ease to 56.0 from 56.5 in August, while the manufacturing PMI is forecast to decline to 53.4 from 53.9.

Readings above 50 indicate an expansion in activity.

The August services reading showed the fastest growth in almost two years, while manufacturing activity was affected in part by supply disruptions.

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