U.S. inventory futures traded simply above the flatline Wednesday after the S&P 500 closed above 5,500 for the primary time.

Futures tied to the S&P 500 and Nasdaq 100 rose marginally, whereas Dow Jones Industrial Common futures had been up 54 factors, or 0.1%.

Paramount International shares popped 9% in premarket buying and selling following stories from The Wall Avenue Journal and The New York Occasions that Skydance Media has reached a preliminary settlement to purchase Nationwide Amusements, the leisure large’s controlling shareholder.

On Tuesday, the broad market index rose 0.6% to shut above 5,500 for the primary time. The Nasdaq Composite superior 0.84% to shut at a file, and the 30-stock Dow rose 0.41%.

Because the S&P 500 continues to climb, concern is rising throughout Wall Avenue that the slim management of the rally isn’t sustainable for for much longer.

The query of when the Federal Reserve will begin slicing charges can be weighing upon traders. Talking at a central financial institution discussion board on Tuesday, Fed Chair Jerome Powell stated that whereas the central financial institution has made some progress in lowering inflation, it isn’t fairly able to decrease charges. 

Scott Chronert, Citi Analysis head of U.S. fairness technique, thinks a pullback could also be imminent within the coming months. 

“Our concern is that the market is starting to cost in a development expectation which may be tough for firms, one after the other, to satisfy, notably given the continuing pressure that we’re seeing on underlying financial circumstances,” he stated on CNBC’s “Closing Bell” on Tuesday. 

“Mix that with sturdy flows into the mega cap development tech and core area and a euphoric sentiment learn — all recommend to us that we do must be ready for a pullback in some unspecified time in the future because the summer season unfolds,” Chronert added. 

A number of new financial information factors are scheduled for launch on Wednesday forward of the Fourth of July vacation. ADP’s personal payrolls information for June is due, as are weekly jobless claims figures. The U.S. commerce deficit stability for Might, whereas the S&P International U.S. Providers Buying Managers Index and the ISM Non-Manufacturing PMI readings for June are due. 

Minutes from the policy-setting Federal Open Market Committee’s June assembly will likely be launched within the afternoon. 

The New York Inventory Alternate closes early at 1 p.m. ET on Wednesday and will likely be shut on Thursday for Independence Day.