U.S. stock index futures slipped slightly on Wednesday as investors remained risk-averse ahead of key economic signals and central bank commentary from this week’s Jackson Hole Symposium.

At 05:40 ET (09:40 GMT), Dow Jones futures were down 72 points, or 0.2%, S&P 500 futures fell 7 points, or 0.1%, and Nasdaq 100 futures declined 33 points, or 0.1%.

The major indices closed mixed on Tuesday: the S&P 500 dropped 0.6%, the Nasdaq Composite slid 1.5%, while the Dow Jones Industrial Average eked out a modest gain. Technology stocks led the declines as investors booked profits amid uncertainty over monetary policy. Reports that the U.S. government may consider taking equity stakes in leading chipmakers added further pressure to the sector.

Fed Minutes in Focus Before Powell’s Address

Markets are cautious ahead of Federal Reserve Chair Jerome Powell’s speech at Jackson Hole on Friday, with expectations building for a rate cut in September following signs of cooling labor markets and softer inflation. Powell’s comments will come after President Trump renewed his criticism of the Fed Chair, accusing him of being “too late” to act on interest rate cuts.

However, investors may gain insight sooner, as minutes from the Fed’s most recent policy meeting are due later Wednesday. The central bank has kept rates steady at 4.25%-4.50% throughout the year, but divisions have surfaced, highlighted by dissenting votes from Governors Christopher Waller and Michelle Bowman—the first double dissent since 1993.

Retail Earnings Take Center Stage

Ahead of Powell’s remarks, attention will also be on earnings reports from major retailers. TJX Companies (TJX), Lowe’s (LOW), and Target (TGT) are set to release results Wednesday, followed by Walmart (WMT) on Thursday. Outside retail, companies including Analog Devices (ADI), Intuit (INTU), and Workday (WDAY) will also report this week.

According to Jefferies, U.S. companies delivered their strongest earnings beats in over three years in the second quarter, with actual earnings exceeding consensus estimates by 12.3%—the widest margin since Q1 2022.

Oil Prices Rebound

Crude prices rose Wednesday, recovering from the prior session’s losses as traders awaited developments on potential steps toward ending the war in Ukraine.

At 05:40 ET, Brent crude gained 1.1% to $66.50 a barrel, while U.S. West Texas Intermediate crude advanced 1.2% to $62.53.

Both benchmarks fell more than 1% on Tuesday amid optimism that a peace deal could be closer, which would likely ease sanctions on Russia and boost global supply.