Investing.com — The release of key U.S. inflation data on Wednesday is in focus, as investors attempt to gauge how the numbers could impact Federal Reserve interest policy decisions. Elsewhere, Apple (NASDAQ:AAPL) unveils incremental changes to its all-important iPhone device, while Arm reportedly gears up to price its initial public offering at the top end of its indicated range.
1. Futures edge lower ahead of key inflation data
U.S. stock futures inched lower on Wednesday, but stayed relatively close to the flatline, as traders awaited the release of crucial inflation figures later in the session that could help determine the path ahead for Federal Reserve monetary policy.
At 05:27 ET (09:27 GMT), the Dow futures contract had slipped by 31 points or 0.1%, S&P 500 futures dipped by 3 points or 0.1%, and Nasdaq 100 futures fell marginally by 11 points or 0.1%.
All three of the main indices slumped in the prior session, with the Nasdaq Composite in particular shedding 144 points or 1.0%. A drop in shares in business software group Oracle (NYSE:ORCL) following a disappointing current-quarter revenue outlook, as well as a decline in Apple stock after the tech giant's annual fall hardware event, weighed on equity markets.
2. CPI seen accelerating in August
Attention now turns to the publication of the U.S. consumer price index (CPI), a major gauge of price gains, for August.
Fed officials and markets alike will likely be keeping a close eye on the data, which may impact how the central bank will approach interest rate decisions over the rest of the year.
Economists expect the pace of annual headline inflation in the world's largest economy to have picked up to 3.6% during the month from 3.2% in July, while the
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