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Futures point to a slightly weaker open on Wall Street, as markets overseas underperform

U.S. stock index futures pointed to a slightly weaker open on Wednesday after Wall Street closed at record highs in the previous session.

U.S. stock index futures pointed to a slightly weaker open on Wednesday after Wall Street closed at record highs in the previous session.

The S&P 500 rose 0.3 percent to close at 2,496.48, achieving intraday and closing records. The Dow Jones industrial average finished at 22,118.86, managing to deliver a record close. The Nasdaq composite closed 0.3 percent higher at 6,454.28, a record closing high.

On Wednesday, stocks looked set for a small pullback, with S&P futures slipping 4.75 points, while Dow and Nasdaq 100 futures declined 21 points and 16.25 points, respectively.

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A trader works on the floor of the New York Stock Exchange (NYSE) on August 24, 2015 in New York City.

While investors have been breathing a cautious sigh of relief in recent days as Hurricane Irma wasn't as volatile and catastrophic as predicted, market watchers remain on edge as the next hurricane is expected to make landfall soon.

In commodities, oil prices were higher on Wednesday following the latest report by the IEA, with U.S. crude trading around $48.66 per barrel, while Brent was at $54.65.

When it comes to data, mortgage applications jumped nearly 10 percent last week amid the lowest rates in almost a year. The Producer Price Index rose 0.2 percent in August, less than expected. ET. The Treasury budget release will then follow, due out at 2 p.m. ET.

Elsewhere in individual stock news, Apple had its latest consumer products event on Tuesday, where investors were waiting with bated breath over what the company would launch next.

At the event, the tech giant revealed its latest iPhone called the iPhone X, which has prices starting from $999 and will ship from November. The company also put on display its new iPhone 8 and 8 Plus, a new Apple Watch and their Apple TV 4K.

Overseas, European stocks were trading under pressure in early market trade, while markets in Asia closed on a mixed note.

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