Futures were mixed this morning. The S&P 500 on Tuesday set its first record close since September, while the Nasdaq posted its first record close since August. Roughly half of S&P stocks are still below where they were the last time the S&P set a record close. Ahead of Wednesday trading, the Dow was less than 1% away from its all-time high close from October. div > div.
There is no government economic data on today's schedule, but the Mortgage Bankers Association issues its weekly look at mortgage applications at 7 a.m. ET. The Energy Department is out with its usual Wednesday look at oil and gasoline inventories at 10:30 a.m. ET. The U.S. will send a high-level delegation to Beijing next week as trade negotiations with China continue, White House Press Secretary Sarah Huckabee Sanders said.
Kraft Heinz is weighing the sale of its Ore-Ida frozen potato brand, maker of Tater Tots, according to people familiar with the situation who spoke to CNBC. Kraft Heinz has hired Evercore Partners to assist in the possible sale. Texas Instruments reported quarterly profit of $1.26 per share, 13 cents above estimates, with the chipmaker's revenue also coming in above Wall Street forecasts. However, the company did warn that a slowdown in microchip demand may last for a few more quarters.
SAP posted on operating loss for its latest quarter, largely from a restructuring charge. The German business software provider did set a goal of expanding operating margins by five percentage points by 2023.