U.S. stock index futures were subdued on Wednesday as investors stayed away from making big bets ahead of monthly retail sales data and the release of minutes from the U.S Federal Reserve's January meeting.
Retail sales are estimated to rise 1.1per cent in January, helped by the disbursal of another round of pandemic relief checks to households at the beginning of the month.Investors are also expecting central banks to keep monetary policy loose in the short term, and the Fed minutes, which will be released later in the day, are likely to back those views.
However, market participants have started to factor in a rise in inflation as economic data improves. Rising inflation expectations also pushed benchmark 10-year U.S. Treasury yields to their highest level in a year on Tuesday. At 6:32 a.m. ET, Dow e-minis were down 4 points, or 0.01per cent, S&P 500 e-minis were down 2.25 points, or 0.06per cent, and Nasdaq 100 e-minis were down 25 points, or 0.18per cent.
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