Merchants work on the ground on the New York Inventory Change on June 24, 2024.Brendan McDermid | ReutersU.S. inventory futures traded close to the flatline Wednesday morning after the S&P 500 closed above 5,500 for the primary time.Futures tied to the S&P 500 inched down 0.11%. Dow Jones Industrial Common futures slipped 0.11% whereas Nasdaq 100 futures have been marginally decrease.Paramount World shares popped practically 7% in prolonged buying and selling following experiences from The Wall Road Journal and The New York Occasions that Skydance Media has reached a preliminary settlement to purchase Nationwide Amusements, the leisure large’s controlling shareholder.Throughout Tuesday’s foremost buying and selling session, the broad market index rose 0.62% to shut above 5,500 for the primary time. The Nasdaq Composite superior 0.84% to shut at a report, and the 30-stock Dow rose 0.41%.Because the S&P 500 continues to climb, concern is rising throughout Wall Road that the slim management of the rally will not be sustainable for for much longer. The query of when the Federal Reserve will begin reducing charges can also be weighing upon traders. Talking at a central financial institution discussion board on Tuesday, Fed Chair Jerome Powell stated that whereas the central financial institution has made some progress in lowering inflation, it’s not fairly able to decrease charges. Scott Chronert, Citi Analysis head of U.S. fairness technique, thinks a pullback could also be imminent within the coming months. “Our concern is that the market is starting to cost in a progress expectation which may be tough for firms, one after the other, to fulfill, significantly given the continuing pressure that we’re seeing on underlying financial situations,” he stated on CNBC’s “Closing Bell” on Tuesday. “Mix that with robust flows into the mega cap progress tech and core area and a euphoric sentiment learn — all recommend to us that we do need to be ready for a pullback sooner or later because the summer time unfolds,” Chronert added. A number of new financial information factors are scheduled for launch on Wednesday forward of the Fourth of July vacation. ADP’s personal payrolls information for June is due, as are weekly jobless claims figures. The U.S. commerce deficit steadiness for Might, whereas the S&P World U.S. Providers Buying Managers Index and the ISM Non-Manufacturing PMI readings for June are due. Minutes from the policy-setting Federal Open Market Committee’s June assembly will likely be launched within the afternoon. The New York Inventory Change closes early at 1 p.m. ET on Wednesday and will likely be shut on Thursday for Independence Day.