U.S. index futures are showing a mixed trend in Wednesday’s pre-market trading. Investors are eagerly awaiting fundamental US inflation data, which should provide crucial insights into the Federal Reserve’s future interest rate policy direction.

As of 6:31 AM, Dow Jones futures (DOWI:DJI) rose by 37 points, or 0.09%. S&P 500 futures fell by 0.01%, and Nasdaq-100 futures lost 0.06%. The yield on 10-year Treasury bonds was at 4.362%.

In the commodities market, West Texas Intermediate crude oil for May rose by 0.23% to $85.43 per barrel. Brent crude oil for June rose by 0.25%, close to $89.64 per barrel. Iron ore traded on the Dalian exchange rose by 1.43% to $112.48 per metric ton.

Wednesday’s economic agenda begins with high anticipation at 8:30 AM with the United States Department of Labor publishing the March consumer price index. Economists forecast that the monthly inflation rate was 0.3% last month, down from 0.4% in February. This is followed at 10 am with the Department of Commerce releasing data on wholesale inventories for February. At 10:30 AM, the focus shifts to the energy sector, with the Department of Energy revealing the position of oil stocks until last Friday. At 2 PM, the Federal Reserve will release the minutes from the last monetary policy meeting of the Federal Open Market Committee. At the same time, the Treasury Department will present government expenditures and revenues for March.

European markets are showing positive performance, navigating in high territory in the context of a global atmosphere of anticipation for United States inflation data.

Asian markets ended the day with mixed trends, with the majority showing negative performance, impacted by Fitch’s decision to downgrade China’s sovereign rating outlook. This action was motivated by growing concerns about the country’s financial health, leading the Chinese Ministry of Finance to issue a statement, ensuring that the national debt situation is under control. Nonetheless, the news shook investors, who also remained cautious in anticipation of new US inflation data. The Shanghai market and Japan’s Nikkei recorded drops of -0.70% and -0.48%, respectively. South Korea’s Kospi showed a variation of -0.46%. Hong Kong’s Hang Seng stood out with an increase of +1.85%, while Australia’s ASX 200 rose by +0.31%.

The US stock market saw volatility on Tuesday, with Nasdaq and the S&P 500 closing up by 0.14% and 0.32%, respectively, while the Dow Jones was virtually stable at -0.02%. Anxiety dominated investors ahead of the inflation report and the Fed minutes to be released today, with sectors such as gold and biotechnology showing recovery and strength, respectively.

On the quarterly results front, financial reports are scheduled to be presented before the market opens from Delta Air Lines (NYSE:DAL), Applied Blockchain (NASDAQ:APLD), Theratechnologies (NASDAQ:THTX), among others.

After the close, numbers from Rent The Runway (NASDAQ:RENT), Richardson Electronics (NASDAQ:RELL), Lakeland Industries (NASDAQ:LAKE), and more are awaited.

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