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U.S. stock futures were little changed on Wednesday as traders await the release of the Federal Reserve’s favorite inflation gauge.
Futures for the Dow Jones Industrial average eked forward six points to 44,957.
Futures for the S&P 500 slipped 8.5 points, or 0.1% to 6,029.75
Futures for the NASDAQ Composite Index skidded 64.25 points, or 0.3%, to 20,929.75.
The U.S. market is closed Thursday for the Thanksgiving holiday and set to close early Friday, with volume expected to remain light.
The personal consumption expenditures price index (PCE) is set for release at 10 a.m. ET. Economists polled by Dow Jones expect a year-over-year increase of 2.8% for the core reading, which excludes food and energy. Investors will look through the data for indications on how the Fed may proceed on its rate policy at its December meeting.
Indeed, the Fed issued the meetings from its November meeting on Tuesday. While central bank officials said they anticipate more interest rate cuts coming down the pike, they said the pace of cuts would happen “gradually.”
Other key data out on Wednesday include personal income and consumer spending for October. That’s also scheduled to be released at 10 a.m. ET.
In Japan, the Nikkei 225 sagged 0.8% Wednesday, while in Hong Kong, the Hang Seng hiked 2.3%.
Oil prices poked higher 19 cents to $68.96 U.S. a barrel.
Gold prices triumphed $32.00 to $2,678.30 U.S. an ounce.