07:09 AM EDT, 07/03/2024 (MT Newswires) -- US equity markets were pointing marginally higher in Wednesday's premarket activity as traders await the minutes of the Federal Reserve's latest policy meeting, as well as the release of several key economic reports.

Standard & Poor's 500 futures and the Nasdaq were slightly in the green, while the Dow Jones Industrial Average nudged up 0.1% before the opening bell. The majority of Asian exchanges were trending upwards, while European bourses were heading north midday on the continent.

US markets will be closed on Thursday for the Independence Day holiday, reopening on Friday.

The Fed will post minutes of its June policy session at 2 pm ET, which will be parsed for clues on rate moves by the central bank. Also on Wednesday's economic calendar, the mortgage applications bulletin is out at 7 am, followed by the Challenger Job Cut Report for last month at 7:30 am.

The ADP Employment Report for June posts at 8:15 am, while the weekly jobless claims bulletin and the international trade in goods and services report for May are due at 8:30 am. The June purchasing managers' index composite final report from S&P Global is out at 9:45 am, followed by the ISM Services gauge for the same month at 10 am.

The factory orders report for May also posts at 10 am. The weekly EIA domestic petroleum inventories and natural-gas supplies reports are scheduled to be released at 10:30 am and 12 pm, respectively.

Shares of Paramount Global ( PARAA ) jumped 9.1% pre-bell following media reports that Skydance Media has reached a preliminary agreement to buy National Amusements, and then merge with the mass media and entertainment conglomerate. Tesla (TSLA) gained 3.7% after reporting stronger-than-expected second-quarter deliveries on Tuesday. Eli Lilly ( LLY ) rose 0.6% after the drugmaker received US Food and Drug Administration approval for its Kisunla, or donanemab, drug to treat adults with early symptomatic Alzheimer's disease.

Constellation Brands ( STZ ) is set to report its latest financial results before the bell.

In premarket action, bitcoin dropped nearly 3% to $60,085, West Texas Intermediate crude oil inched up 0.1% to $82.87 a barrel, yields on 10-year Treasuries dipped 0.8 basis points to 4.427% and gold increased 0.9% to $2,355 an ounce.