At the Open: Major averages were set to extend Tuesday’s gain, with futures trading solidly higher ahead of Wednesday’s opening bell.

Markets continued to trade with remarks from the White House top of mind after President Trump stated he foresaw the U.S.-Iran conflict concluding within two to three weeks. Treasury yields stabilized as traders began re-pricing a chance of a rate cut this year. However, fairly measured cooling in crude prices kept a lid on stocks as the Strait of Hormuz remains closed and energy prices remain elevated with little direction on how the waterway may reopen. Gold traded higher and the dollar weakened.