US stock futures are rising in Wednesday's premarket session as investors are emboldened by President Trump's claim that the Middle East conflict will be over in two or three weeks.

The Dow Jones Industrial Average futures were up 0.8%, S&P 500 futures were gaining 0.8%, and Nasdaq futures were moving 1.1% higher.

Oil prices were moving sharply lower, with front-month global benchmarks Brent crude declining 1.1% to $102.84 a barrel, while West Texas Intermediate crude was down 1.6% to $99.78 a barrel.

Investors will be looking ahead to key employment, retail sales, and manufacturing data coming out later in the morning. ADP private payrolls for March will be released at 8:15 am ET; retail sales data for February will be posted at 8:30 am ET, and the S&P Global manufacturing reading for March is slated to be announced at 9:45 am ET.

The ADP employment change is expected to decline to 40,000 in March, from 63,000 in February, according to a survey compiled by Bloomberg, while monthly retail sales are expected to rise 0.5% for February, rebounding from a 0.2% decline the previous month. The S&P Global US manufacturing reading is expected to remain unchanged at 52.4, according to Bloomberg.