U.S. equity futures nudged higher in early Wednesday trading, while the dollar eased and Treasury yields steadied, as investors braced for a crucial December inflation report that could define the market's direction over the coming weeks.

Investors are gearing up for December's crucial consumer price index to determine the direction of Fed policy.

Asian shares are mixed after gains for oil and gas producers helped offset drops for Nvidia and other Big Tech companies on Wall Street.

World stocks were mixed on Wednesday following Wall Street’s mostly positive performance before key U.S. inflation data that could influence the pace of market-boosting rate cuts by the Federal Reserve.

U.S. stocks rose modestly in choppy trade on Tuesday as investors gauged inflation data and braced for quarterly earnings reports to justify stock valuations and the strength of the U.S. economy. Stocks received an initial lift after a Labor Department report showed the producer price index rose less than expected in December,

US stocks gained after cooler-than-expected producer price index data soothed inflation concerns. The numbers on Tuesday showed wholesale inflation rose 0.2% in December on a monthly basis, compared to an estimated 0.