NEW YORK (TheStreet) -- U.S. stock index futures were trading higher Wednesday after leaders in Ukraine said Russia agreed to a cease-fire in eastern Ukraine.
Watch the video below to see how the positive news from Russia and Ukraine is affecting European markets in midday trading Wednesday:
Dow Jones Industrial Average
U.S. stock indices ended Tuesday mixed as investors returned from the U.S. Labor Day weekend largely indecisive about their positioning despite a trio of good U.S. economic reports.
Ukrainian President Petro Poroshenko announced he and Russian President Vladimir Putin had agreed on a "cease-fire process," correcting an earlier statement that a "permanent cease-fire" had been agreed upon. The Kremlin said the two leaders had "coincided significantly" on possible ways to end the crisis, British Broadcasting Corp. reported.
Read More: European Stocks Rally on Potential Russa/Ukraine Cease-Fire
European stock indices rallied on Wednesday, galvanized by news of the potential cease-fire and a strong performance from Asia.
The U.S. economic calendar Wednesday includes factory orders for July at 10 a.m. EDT, and the Federal Reserve's Beige Book report providing a snapshot of economic conditions from each of the 12 Fed districts at 2 p.m.