Major US equity indices witnessed a muted opening and seesawed between small gains / minor losses, struggling for a firm direction, as markets brace for speech from FOMC member Esther George and the Fed's report on economic conditions, Beige Book, which would help investors to gauge the central bank's next monetary policy action. 

During early trade, Dow Jones Industrial Average was down 18 point to 18,520, while the S&P500 index traded mildly lower at 2,185, down around 2 points. Meanwhile, the Nasdaq composite outperformed the broader indices and climbed 4 point to 5,280.

Wednesday's lackluster came after Tuesday's range-bound price action following the release of disappointing release of US ISM non-manufacturing PMI, which now seems to have dampened expectations of an eventual Fed rate-hike action at its meeting on September 20-21.

Meanwhile, traders would keenly scrutinize Kansas City Fed President Esther George's testimony on monetary policy and trade before the Financial Services sub-committee in order to get fresh insight over the Fed's monetary policy outlook, which might eventually provide some impetus to the equity markets.