US equity futures showed minimal movement on Wednesday morning as traders opted to remain cautious ahead of an anticipated important inflation report. The Dow Jones Industrial Average futures exhibited stability, while S&P 500 futures recorded a modest increase of 0.1% and Nasdaq futures saw a rise of 0.2%.
Meanwhile, oil prices indicated an upward trend, with the front-month global benchmark North Sea Brent crude climbing by 1% to $72.91 per barrel, and US West Texas Intermediate crude gaining 1.1% to reach $69.36 per barrel. The Consumer Price Index report is set to be released at 8:30 am ET, with forecasts suggesting a 0.3% rise in consumer prices for November following a previous increase of 0.2%.
Traders are eagerly awaiting the release, which may influence market dynamics significantly..