In the previous day's trade, markets worldwide were on edge following news that North Korea had fired a ballistic missile which had passed over Japan. However, investor nervousness around North Korea appears to have eased.

U.S. stock index futures pointed to a higher open on Wednesday, as geopolitical concerns surrounding North Korea and the West appeared to show signs of receding.

Traders work on the floor of the New York Stock Exchange on January 31, 2014 in New York City.

This comes as President Donald Trump issued a statement which said that "all options are on the table" when it comes to its relationship with North Korea going forward.

"The world has received North Korea's latest message loud and clear: this regime has signaled its contempt for its neighbors, for all members of the United Nations, and for minimum standards of acceptable international behavior," Trump said in a statement, adding that "threatening and destabilizing actions" would only increase the North Korean regime's isolation among other nations.

Meanwhile, Hurricane Harvey continues to cast a shadow over a number of sectors including energy, with oil prices coming under pressure, as refineries continue to be affected by the natural disaster.

At 8:31 a.m. ET, U.S. crude hovered around $46.01 per barrel, while Brent last stood around $51.53.

Data will be at the forefront of investors' minds on Wednesday, as a whole slew of figures are set to be published.

The ADP National Employment report showed private-sector jobs increased by 237,000 jobs in August, well above the expected 185,000. The ADP report is often used by traders as a preview to the government's monthly jobs report, which is set for release on Friday.

The second estimate for gross domestic product data in the second quarter showed the U.S. economy grew by 3.0 percent, more than the expected increase of 2.7 percent. Weekly mortgage applications fell by 2.3 percent.