U.S. stock futures were little changed on Wednesday as traders await the release of the Federal Reserve’s favorite inflation gauge. Futures tied to the Dow Jones Industrial Average rose 25 points, sitting near flat. S&P 500 futures fell 0.1%, while Nasdaq-100 futures dipped 0.2%. The personal consumption expenditures price index (PCE) is set for release at 10 a.m. ET. Economists polled by Dow Jones expect a year-over-year increase of 2.8% for the core reading, which excludes food and energy. Investors will look through the data for indications on how the Fed may proceed on its rate policy at its December meeting. That comes a day after the Fed issued the meetings from its November meeting. While central bank officials said they anticipate more interest rate cuts coming down the pike, they said the pace of cuts would happen “gradually.” “I think they’ll cut again [in December],” Stephen Stanley, Santander U.S. Capital Markets chief U.S. economist, told CNBC’s “Power Lunch.” “I think they feel like they’re still pretty far away from neutral, so they feel like they still have some distance to go and they’d like to get another notch in their belt on that.” Other key data out on Wednesday include personal income and consumer spending for October. That’s also scheduled to be released at 10 a.m. ET. It’s a shortened trading week in the U.S., with the market dark for the Thanksgiving holiday on Thursday and set to close early Friday. Trading volume is anticipated to remain light. Still, stocks finished in the green across the three major averages on Tuesday. Both the S&P 500 and the Dow reached fresh intraday and closing highs. U.S. Treasury yields were lower on Wednesday as investors awaited a key inflation reading and weighed statements from the Federal Reserve meeting minutes from November. At 6:06 a.m. ET, the yield on the 10-year Treasury was down by more than 4 basis points at 4.261%. The 2-year Treasury yield fell 3 basis points to 4.2210%. Asia-Pacific markets were mixed Wednesday, following gains on Wall Street that saw the S&P 500 and the Dow Jones Industrial Average reach new intraday and closing records. Hong Kong’s Hang Seng index was up 2.45% in its last hour of trade, while mainland China’s CSI 300 gained 1.74% to close at 3,907.04. Australia’s S&P/ASX 200 rose 0.57% to end the day at 8,406.7. Japan’s Nikkei 225 fell 0.8% to end at 38,134.97, while the broad-based Topix dropped 0.9% to 2,665.34. South Korea’s blue-chip Kospi index fell 0.69% to 2,503.06, while the small-cap Kosdaq was down 0.17% to 692.0. Oil prices held steady on Wednesday as markets evaluated a ceasefire deal between Israel and Hezbollah while also anticipating Sunday’s OPEC+ meeting, where the group could delay a planned increase in oil output. Brent crude futures rose 32 cents, or 0.44%, to $73.13 a barrel by 0932 GMT and U.S. West Texas Intermediate crude was up 33 cents, or 0.48%, at $69.10. Both benchmarks settled lower on Tuesday after Israel agreed to a ceasefire deal with Lebanon’s Hezbollah. Gold prices rebounded on Wednesday, after hitting a more than one-week low in the previous session, as the dollar weakened, while traders awaited key inflation data to gain insights into the Federal Reserve’s potential path for rate cuts. Spot gold was up 0.7% at $2,649.14 per ounce, as of 0919 GMT. U.S. gold futures rose nearly 1.1% to $2,649.20. Gold registered its deepest one-day decline in more than five months on Monday, and hit its lowest since Nov. 18 in the previous session, as safe-haven demand for the metal softened after Israel agreed to a ceasefire deal with Lebanon.