By Fred Imbert, CNBC–

  • Wall Street saw its worst day of June on Tuesday on the back of comments from Federal Reserve officials.
  • Fed Chair Jerome Powell said the central bank is assessing whether the U.S. economy is calling for lower rates.

U.S. stock index futures were slightly higher Wednesday morning, after Fed Chairman Powell downplayed chances of a rate cut and argued that any decision will be based on a broad scope of information.

At around 4:10 a.m. ET, Dow futures rose 7 points, indicating a positive open of more than 13 points. Futures on the S&P and Nasdaq were both seen slightly higher.

Wall Street saw its worst day of June on Tuesday on the back of comments from Federal Reserve officials. Fed Chair Jerome Powell said the central bank is assessing whether the U.S. economy is calling for lower rates. However, Powell also said that the Fed will take a wait-and-see approach given how rapid recent economic changes have been.

Earlier on Tuesday, James Bullard, president of the St. Louis Fed, downplayed prospects of a rate cut. Market expectations point to a rate cut in July.

Meanwhile, investors are also looking ahead to a G-20 meeting later this week, where President Donald Trump is due to meet his Chinese counterpart, Xi Jinping. Data released Tuesday showed a 4% drop in U.S. property sales to Chinese buyers between 2017 and 2018 – as the trade war between both economies continues.

In terms of data, there will be durable goods numbers at advanced economic indicators due at 8:30 a.m. ET.

In corporate news, General Mills and KB Home are due to report earnings.