Stock futures were near flat early Wednesday as traders awaited the release of key U.S. inflation data along with Nvidia's latest quarterly results. As of 2:48 a.m. ET, S&P 500 and Nasdaq-100 futures were little changed, while Dow futures added 0.1%.

The major averages recently experienced a winning session, buoyed by falling yields and lower oil prices. The S&P 500 gained 0.3% in regular trading, while the Nasdaq Composite advanced 0.7%. The Dow climbed 160.24 points, or 0.3%, marking its third consecutive positive day.

In Asia, Japan's Nikkei 225 rose by 0.61%, and South Korea's Kospi gained 2.04%. Australia's benchmark S&P/ASX 200 was 0.17% lower, while Hong Kong's Hang Seng Index was up 0.68%, and mainland China's CSI 300 advanced by 1.07%.

The July personal consumption expenditures price index, which details changes in prices of goods and services and is the Federal Reserve's preferred inflation metric, is set to be released on Wednesday at 8:30 a.m. ET. Economists polled by Dow Jones expect a month-over-month increase of 0.1% and a year-over-year increase of 3.6%. In June, the report noted a decrease of 0.1% on a monthly basis and a 3.7% increase year-over-year.

This report comes amid a focus on the bond market, where U.S. Treasury yields hit multiyear highs last week, with the 30-year bond rate reaching levels not seen in nearly 20 years. However, yields fell broadly on Tuesday, with the 10-year yield losing almost 8 basis points.

Nvidia and Jackson Hole Symposium

Nvidia is set to report its earnings for the second quarter on Wednesday after the bell. Wall Street projects earnings per share of $2.09 on $92.28 billion in revenue, according to FactSet. This report could serve as a bellwether for the broader market, given that the chipmaker is the largest S&P 500 member, with a market cap exceeding $5 trillion.

Investors are also closely watching Federal Reserve Chairman Kevin Warsh's speech on Friday at the Fed's annual symposium in Jackson Hole, Wyoming. Some analysts suggest that Warsh may remain cautious in his remarks ahead of the Fed's monetary policy decision in September.

“Given his approach to the June and July press conferences, we think it is unlikely that he would move straight to a deep dive into the current economic outlook and its implications for policy over the balance of 2026,” noted Kurt Lewis, head of central bank policy at Piper Sandler, in a client communication.