Wall Street Faces Pre-Market Decline Ahead of Key Inflation Data

As the clock ticks down to the release of the latest U.S. inflation figures, major indices on Wall Street have taken a cautious stance, trading in the red during Wednesday's premarket session. Investors are on edge, awaiting data that could influence the Federal Reserve's next moves.

Adding to the day's financial drama, Federal Reserve Chair Jerome Powell is set to continue his testimony before Congress, offering insights into the central bank's perspective on the economy. Meanwhile, the market is also bracing for mortgage data revelations and quarterly earnings reports from major players like Robinhood, Reddit, and Cisco, expected after the market closes.

At 4:29 am ET, the Dow Jones Industrial Average was down by 0.17%, with the S&P 500 and NASDAQ 100 not far behind, dropping 0.18% and 0.14%, respectively. Currency markets saw the euro holding steady against the dollar, trading at 1.03713 at 4:28 am ET.