08:58 AM EDT, 07/09/2025 (MT Newswires) -- US equity futures posted narrow gains before Wednesday's opening bell as traders looked ahead to the release of the minutes from the Federal Reserve's most recent monetary policy meeting.

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

Investors are also monitoring a potential US-Europe trade deal. German Chancellor Friedrich Merz said the European Union may close a trade deal with the US in the coming days, Politico reported.

The minutes from the Federal Open Market Committee's latest meeting are scheduled for release at 2 pm ET.

Oil prices were higher, with front-month global benchmark North Sea Brent crude up 0.2% at $70.28 per barrel and US West Texas Intermediate crude 0.2% higher at $68.45 per barrel.

The May wholesale inventories report, due at 10 am ET, is expected to show a 0.3% decline in wholesale inventories following a 0.2% gain in the preceding month, according to estimates compiled by Bloomberg.

In other world markets, Japan's Nikkei closed 0.3% higher, Hong Kong's Hang Seng ended 1.1% lower, and China's Shanghai Composite finished 0.1% lower. Meanwhile, the UK's FTSE 100 was up 0.1%, and Germany's DAX index was 1.1% higher in Europe's early afternoon session.

In equities, Verona Pharma ( VRNA ) stock was 20% higher after the company agreed to be acquired by Merck ( MRK ) in a roughly $10 billion deal. AES ( AES ) shares were up 15% following a Bloomberg News report that that company is exploring options, including a potential sale of the company.

On the losing side, Aehr Test Systems ( AEHR ) shares were down 22% after the company reported late Tuesday it swung to fiscal Q4 adjusted loss amid lower revenue. WPP ( WPP ) stock was 15% lower after the company cut its fiscal 2025 comparable revenue outlook.