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.

U.S. stock futures swung between gains and losses on Wednesday after ending on a mixed note on Tuesday. Futures of major benchmark indices were mixed.

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.

At 5:30 a.m. ET, Dow E-minis were down 6 points, or 0.01%, U.S. S&P 500 E-minis were down 8.5 points, or 0.14%, and Nasdaq 100 E-minis were down 73 points, or 0.32%.

U.S. stock futures fell Sunday, a day after President Donald Trump threatened to impose new 30% tariffs against imports from Mexico and the European Union.

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.

Stock futures were little changed on Wednesday evening after the S&P 500 recouped some of its losses from this week's tariff-fueled slide. S&P 500 futures traded just below the flatline, along with Nasdaq 100 futures. Futures tied to the Dow Jones Industrial Average were down 37 points, or less than 0.1%.

German Chancellor Friedrich Merz said that Trump’s threat of 30% tariffs on goods from the European Union would hit the German export industry “to the core,” and vowed to work toward a solution.

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.