08:17 AM EDT, 07/10/2024 (MT Newswires) -- US stock futures were trending marginally higher in Wednesday's premarket activity ahead of Federal Reserve Chair Jerome Powell's Congressional testimony before the House Financial Services Committee.

In his second day of testimony, Powell will provide a prepared statement followed by a question-and-answer session with the Committee.

The Dow Jones Industrial Average futures were marginally higher, S&P 500 futures were up 0.2%, and Nasdaq futures gained 0.3%.

Oil prices were moving lower, with front-month global benchmarks Brent crude and West Texas Intermediate crude declining 0.3% and 0.2% respectively.

The Energy Information Administration's crude oil inventories, an inflationary indicator that measures the weekly change in commercial crude oil held by US firms, is slated for release at 10:30 am ET.

In equities, shares of VivoPower International ( VVPR ) were up over 96% in Wednesday's premarket session after the company said overnight it secured an amendment and extension to its $34 million shareholder loan financing deal. NaaS Technology's ( NAAS ) stock was 83% higher, adding to Tuesday's 68% gain.

On the losing side, shares of LegalZoom.com ( LZ ) were more than 25% lower after JPMorgan downgraded the company's stock to neutral from overweight and cut its price target to $9 from $14. Stardust Power (SDST) stock was 18% lower, more than wiping out Tuesday's nearly 9% gain.