The Dow trimmed its decline and was near breakeven levels below 45,000. The Nasdaq composite tumbled 1%, but was off session lows. The tech-dominated index fell below its 21-day moving average. The S&P 500 declined 0.7%. Please watch the video at Investors.com - How To Make Alternative Buy Points Your Secret Weapon For Nailing Big Gains

Stock futures are pointing to a slightly lower open for major indexes on Wednesday as investors respond to a slew of earnings reports from retailers and brace for a big speech later in the week by Federal Reserve Chair Jerome Powell.

Policymaker sentiment will take a front seat heading into the annual Jackson Hole central banking summit.

The Dow rose 0.7%, or more than 325 points. The S&P 500 gained 0.1% and the tech-heavy Nasdaq composite traded nearly flat, trimming stronger gains. The S&P 500 and the Nasdaq closed at record highs on Tuesday as traders pushed rate-cut odds to 99% for the Federal Reserve's September meeting following July inflation and employment data.

US stocks were mixed on Friday as Wall Street tempered its rate-cut hopes amid economic data this week that showed higher-than-expected wholesale inflation and a rise in July retail sales. A meeting between President Trump and Russian President Vladimir Putin was also in focus as traders looked for clues on how the outcome could steer markets.