Wall Street braced for another inflation checkup after Tuesday's consumer price reading spurred traders to pare bets on Fed rate cuts in the coming months.

Dow, S&P 500, and Nasdaq futures are falling in premarket trading Wednesday as the stock market grabbles with inflation fears ahead of more bank earnings and PPI data.

U.S. stock futures dipped as investors absorbed mixed inflation data and braced for more economic reports. Several major U.S. companies are gearing up to release their quarterly earnings, while European chip equipment maker ASML (EU:ASML) warned of potential headwinds from rising U.

Stock index futures were largely flat on Wednesday, as investors awaited more inflation data and weighed President Donald Trump's latest tariff announcements. S&P 500 futures (SPX) were flat, Nasdaq 100 futures (US100:IND) -0.

Dow Jones futures fell slightly after hours, along with S&P 500 futures and Nasdaq futures.Another big inflation report is due before the open, along with earnings from chip-gear giant ASMLASML as well as Goldman SachsGS.

U.S. equity futures pointed to early gains on Tuesday, setting the stage for a positive open as investors digested fresh inflation data and a key update from chip giant Nvidia. Nvidia (NASDAQ:NVDA) was a standout in premarket trading,

U.S. stock futures are lower after President Donald Trump further escalated trade tensions. Over the weekend, Trump announced a 30% tariff on goods from the European Union and Mexico, starting Aug. 1. Mexico and EU leaders said they would continue to negotiate this month before that date.

The S&P 500 was virtually unchanged in midday trading and just a bit below its all-time high, even as more than four out of every five stocks within the index fell.