Inflation data weighs in on US futures; stock indices end flat

U.S. stock index futures were little changed on Wednesday, with weak economic data from Japan and Germany adding to global growth worries ahead of U.S. consumer price numbers that could offer clues on future interest rate hikes.

The muted moves in futures follow losses for Asia and Europe after data showed soft retail sales in China and slowing Japanese and German economies in the third quarter.

Shares of energy companies including Exxon Mobil Corp and Chevron Corp gained about half a per cent in premarket trading as oil attempted a rebound after plunging around 7 per cent in the previous session.

Volatile oil prices have hit energy companies, with the S&P energy index falling 9.4 per cent this year, and were among the worst S&P performers in 2018.

A mix of factors from a bitter trade dispute between the United States and China, worries about rising interest rates and slowing corporate profit have stalled gains for U.S. stocks, with the S&P 500 trading 7 per cent below its record level.

Trade tensions took a step back on Tuesday after a U.S. adviser Larry Kudlow said Washington welcomed the resumption of talks with China on trade.

The U.S. Labor Department is set to release October consumer prices numbers at 8:30 a.m. ET. The report is likely to show a 0.3 per cent rise after an increase of 0.1 per cent in September.

Excluding the volatile food and energy components, consumer prices are forecast to have risen 0.2 per cent, after edging up 0.1 per cent the month before.

A surprise to the upside could add to the case for further interest rate hikes by the Federal Reserve, with a December move almost fully priced in.

At 7:26 a.m. ET, Dow e-minis were up 24 points, or 0.09 per cent. S&P 500 e-minis were up 2.25 points, or 0.08 per cent and Nasdaq 100 e-minis were down 10 points, or 0.15 per cent.

Among stocks, Apple Inc slipped 0.2 per cent after UBS cut the iPhone maker's earnings estimate following profit warnings from several of its suppliers.

Snap Inc fell 4.3 per cent after Reuters reported that U.S. regulators have subpoenaed the social media app maker for information about its March 2017 initial public offering.

Department store operator Macy's Inc fell 0.2 per cent ahead of its earnings.