Stock Futures Flat as Markets Cool
NEW YORK (TheStreet) -- U.S. stock futures were pointing to a flat opening on Wednesday as major equity markets cooled off following two days of strong gains on improving Chinese growth.
Futures for the S&P 500 were effectively unchanged at 1,682.25.
Futures were moving sideways Wednesday after President Barack Obama addressed the nation Tuesday night about Syria in which he proposed a diplomatic solution with Russia's aid to seize Syria's chemical weapons arsenal thereby avoiding a military intervention in the Middle Eastern nation. Obama did reiterate that, if necessary, a limited targeted strike could be used to achieve a clear goal: "detering the use of chemical weapons and degrading Assad's capabilities."
The U.S. economic calendar includes wholesale inventories for July at 10 a.m. EDT. Economists polled by Thomson Reuters are expecting July inventories to have risen 0.3%, which would reverse the prior month's 0.2% dip.
Additionally, the Energy Information Administration at 10:30 a.m. will release weekly information on crude, gasoline and distillate inventories in the United States.
In company news, shares of Apple