U.S. equity futures were trading higher ahead of the latest report on producer prices.
The major futures indexes suggest a gain of 0.4% when trading begins on Wall Street.
Oil prices rose on Wednesday as the dollar gained steam.
West Texas Intermediate crude futures were trading around $89.00.
Brent crude futures traded around $94.00 a barrel.
Both benchmarks fell 2% in the previous session.
The Bureau of Labor Statistics will report wholesale inflation for September. The producer price index is expected to rise 0.2% month-over-month according to Refinitiv forecasts.
Year-over-year, prices paid by wholesalers are anticipated to jump 8.4%, down from 8.7% in August and the third straight month of slowing growth.
If you exclude food and energy costs, core producer prices are anticipated to rise 0.3% monthly in September, trailing August’s 0.4% gain.
Benchmarks fell in Tokyo, Hong Kong, but rose in Shanghai.
Japan’s Nikkei 225 was virtually unchanged, losing 4 points. Hong Kong’s Hang Seng slipped 0.8% and China’s Shanghai Composite climbed 1.5%.
On Wall Street, the S&P 500 fell 0.7% Tuesday, marking its fifth straight loss, closing at 3,588.84.
The Nasdaq dropped 1.1% to 10,426.19. The Dow Jones Industrial Average added 0.1% to 29,239.19.
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