India, June 3 -- After inching higher over the past few sessions, stocks may give back some ground in early trading on Wednesday. The major index futures are currently pointing to a modestly lower open for the markets, with the S&P 500 futures down by 0.2 percent.

Uncertainty about the situation in the Middle East may weigh on Wall Street, as negotiations between the U.S and Iran continue to drag on.

U.S. Central Command said U.S. forces successfully defeated multiple Iranian ballistic missiles and drones and conducted "self-defense" strikes on Qeshm Island in response to attempted attacks by Iran on Tuesday.

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