US stock futures edged higher on Wednesday as Treasury yields eased, with investors awaiting fresh inflation data that could influence expectations for the Federal Reserve’s interest-rate path.
Dow futures rose about 0.18%, while S&P 500 futures gained 0.1% in early trading. Nasdaq 100 futures were broadly flat. The S&P 500 and Nasdaq remained on track for a second consecutive quarterly gain despite September’s market volatility, while the Dow was heading for a quarterly decline.
The main focus is the August Personal Consumption Expenditures (PCE) inflation report, the Federal Reserve’s preferred inflation measure. Economists expect annual inflation to have reached 3.7%, a reading that could affect expectations for the central bank’s next interest-rate decisions.
The yield on the benchmark 10-year US Treasury eased on Wednesday after reaching its highest level since June 2007 in the previous session. Higher borrowing costs have remained a concern for equity markets, particularly as elevated oil prices continue to add to inflation pressures.
Among major companies, Nvidia, Alphabet and Apple moved higher in premarket trading, while chipmakers AMD and Marvell slipped.
Investors are also monitoring corporate earnings and developments in the artificial-intelligence sector as markets approach the end of a volatile September.
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