US equity futures were mostly lower pre-bell Wednesday as traders observed global bond yields continuing to increase amid inflation concerns.

Dow Jones Industrial Average futures were 0.1% higher, but S&P 500 futures were down 0.1%, and Nasdaq futures were off 0.3%.

The US 10-year Treasury note yield reached a high of 4.814%, while borrowing costs in the UK, Germany and France also increased.

US Central Command said in a post on X that US forces completed a wave of strikes against Iranian military targets on Tuesday. Iran attacked US allies Kuwait and Bahrain in response.

President Donald Trump said he was not trying to force Iran back into negotiations. "I like our position now much better, with almost total control of the Hormuz Strait, and their economy totally collapsing," Trump said in a post on Truth Social.

Broadcom (AVGO) is scheduled to report its fiscal Q3 earnings after the market closes. Analysts polled by FactSet expect earnings of $3.22 per share on revenue of $29.24 billion.

Oil prices are lower, with front-month global benchmark North Sea Brent crude down 0.9% at $93.83 per barrel and US West Texas Intermediate crude 1.1% lower at $89.19 per barrel.

The ADP employment report for August, expected at 8:15 am ET, is seen increasing to 47,000 from 44,000 in the prior month, according to estimates compiled by Bloomberg.

July factory orders, due at 10 am ET, are expected to have gained 0.7%, compared with a decline of 0.3% previously. The Fed's Beige Book report will be released at 2:00 pm ET.