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.

World stocks are mixed follow Wall Street’s mostly positive performance ahead of key U.S. inflation data that could influence the pace of the Federal Reserve’s rate cuts.

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.

Asian stocks were mixed Wednesday after Tuesday's Wall Street topsy-turvy session after wholesale inflation data that came in softer than expected. Investors will keenly look ahead to key U.S. inflation data that could play the pace of interest rate cuts by the Federal Reserve.