US stock futures traded cautiously as investors waited for June's consumer inflation data later in the day, while oil recovered some stability after a devastating sell-off the day before.
The data will show how quickly prices are going up. Even though this could hurt growth, the Federal Reserve will keep hiking interest rates.
The S&P 500 futures were down 0.07% and the Industrial Average futures were slightly lower.
May's 8.6% figure encouraged the Fed to raise rates by 75 basis points and caused a stock market sell-off.
The biggest risk event on the calendar is likely to be the US inflation data. After May's rise, the rate of price increases is expected to have pushed north again in June.
There was more of a mixed picture for global equities, with some Asian indexes rising, but European stocks falling.
The Tokyo Stock Exchange's benchmark index closed higher, while the Chinese stock exchange's benchmark index closed little changed. The Hang Seng fell in Hong Kong.
France's CAC 40 and Germany's DAX 40 pulled down the Europe's flagship Stoxx 600 index. The UK's benchmark index fell 1.11%.
There was a slight increase in oil prices, with the price ofBrent crude climbing 0.82% to just over $100 a barrel and the price ofWTI crude rising 0.81% to just under $97 a barrel.
As investors became more uneasy about the likelihood of a global recession, both benchmarks plunged yesterday.
"Although we're expecting another strong inflation print today, ahead of that release there were actually growing signs of respite on the inflation front thanks to further losses amongst a number of key commodities," Jim said.
After briefly breaking parity with the euro on Tuesday, the dollar was mostly unchanged. The pound gained against both the dollar and euro after the ruling Conservative Party announced eight candidates to replace Boris Johnson as prime minister.
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