(RTTNews) - After mixed results in the prior session, equities could lack clear direction during early Wednesday trading. Index futures currently signal a nearly flat start, with S&P 500 futures showing a slim gain of 0.1 percent.

Market participants seem reluctant to commit to large positions before the Federal Reserve delivers its monetary policy update later today.

Although interest rates are widely expected to remain unchanged, the policy statement and remarks from incoming Chair Kevin Warsh may shape views on future rate moves.

Ongoing questions about the preliminary U.S.-Iran agreement could also keep some traders cautious given the limited details released so far.

Crude prices are recovering after President Donald Trump stated the deal is not yet complete and cautioned that the U.S. could resume strikes on Iran if terms prove unsatisfactory.

In domestic data, the Commerce Department reported that retail sales rose more than forecast during May.

Retail sales advanced 0.9 percent last month after a revised 0.4 percent increase in April.

Analysts had projected a 0.5 percent gain, in line with the originally reported April figure.

Following recent advances, major U.S. benchmarks posted mixed results on Tuesday as the Nasdaq and S&P 500 retreated while the Dow reached a fresh record close.

The Nasdaq fell 307.60 points or 1.2 percent to 26,376.34. The S&P 500 slipped 42.94 points or 0.6 percent to 7,511.35, whereas the Dow climbed 328.64 points or 0.6 percent to 51,999.67.

Overseas, Asia-Pacific bourses finished mostly higher on Wednesday, with Japan's Nikkei 225 rising 0.7 percent and China's Shanghai Composite adding 0.4 percent.

European indices meanwhile turned in a subdued performance, as the CAC 40 held near flat while the FTSE 100 eased 0.1 percent and the DAX declined 0.2 percent.

In commodities, crude oil futures advanced $0.58 to $76.63 per barrel after dropping sharply the previous day. Gold traded at $4,343.80 an ounce, down $10.60 from Tuesday's close of $4,354.40.

The dollar fetched 160.26 yen versus 160.45 yen at the prior New York close, and stood at 1.1597 against the euro compared with 1.1607 yesterday.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.