US pre-open: Futures lower ahead of PCE reading
Wall Street futures were in the red ahead of the bell on Wednesday ahead of a flurry of economic data, including the Federal Reserve's preferred inflation gauge.
As of 1230 GMT, Dow Jones futures were down 0.02%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.15% and 0.32% lower, respectively.
The Dow closed 123.74 points higher on Tuesday after Donald Trump announced that he would look to slap America's largest trading partners with additional tariffs when he takes office next year.
Wednesday's primary focus will likely be the release of the personal consumption expenditures index at 1500 GMT, with economists expecting to see a 2.8% year-on-year increase to the core reading. The PCE reading, closely watched by the central bank, will be key to investors who will hope to gain some kind of insight into just what the Fed's move may be at its December meeting.
Elsewhere on the macro front, US mortgage applications surged 6.3% in the week ended 22 November, according to the Mortgage Bankers Association of America, building on the prior week's 1.7% increase.
Still to come, weekly jobless claims data from the Labor Department will be out at 1330 GMT, as will a preliminary reading of October's GDP, wholesale inventories numbers, and durable goods orders, while the Chicago Fed's November purchasing managers index will be out at 1445 GMT and October pending home sales will follow at 1500 GMT.
In the corporate space, Dell Technologies shares were lower after posting weaker-than-expected Q3 revenues, while shares in fellow technology giant HP also headed south after it issued soft Q125 earnings guidance.
Markets will be closed tomorrow in celebration of the Thanksgiving Day break and will close early on Friday.
Reporting by Iain Gilbert at Sharecast.com