Indices

The S&P 500 is attempting to recover from a local low as futures push toward the 7,800 area again. Traders remain cautious as geopolitical uncertainty, elevated oil prices and rising bond yields keep the broader consolidation intact.

The S&P 500 moved higher early Wednesday as traders tried to recover recent losses after a Treasury buyback announcement helped ease pressure in long dated yields. The index remains in a broader uptrend, but short term momentum has weakened as markets await FOMC minutes and watch whether key support levels hold.