Stock futures traded flat on Wednesday as Wall Street appeared range-bound near record levels.
Futures tied to the Dow Jones Industrial Average were lower by 7 points. S&P 500 futures added 0.1%, while Nasdaq 100 futures gained 0.3%. Trading was quiet in the premarket though reopening plays like Carnival Corp. and American Airlines gained. The S&P 500 and the blue-chip Dow both closed near the flatline on Tuesday. The broad equity benchmark is now just 0.3% below its record high of 4,238.04 reached on May 7. Investors await the next reading on inflation to gauge if higher price pressures are just temporary as the economy continues to rebound from the pandemic-induced recession.
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