US stock futures wavered amid increasing expectations that the Federal Reserve will cut interest rates at its next meeting, following the latest inflation data.

U.S. stock futures were edging up early Wednesday after indexes reached new highs on the back of encouraging inflation data, firming up bets on a September rate cut from the Federal Reserve. Dow Jones Industrial Average futures were up seven points,

Stocks are poised to open higher on Wednesday as the market looks to extend a rally that has pushed major indexes back to record-high levels.