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.

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 0.4% increase. The reading climbed 3.3% from a year ago, below the projected 3.5% gain.

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.

Asian shares traded mixed Tuesday, echoing Wall Street trading, where gains for oil-and-gas producers helped offset drops for Nvidia and other Big Tech companies. Japan's benchmark Nikkei 225 slipped 1.

Stocks gained ground on Wall Street following an encouraging update on inflation. The S&P 500 rose 0.3% in afternoon trading Tuesday after wobbling between gains and losses earlier. The Dow

Most U.S. stocks rose Tuesday following an encouraging update on inflation, though drops for Eli Lilly and other influential stocks kept indexes in check. The S&P 500 rose 0.1% as three out of every four stocks in the index climbed.