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US stocks searching for direction hours before Wednesday's opening bell
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U.S. equity futures are searching for direction ahead of the Wednesday session on Wall Street.
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Investors also will be closely watching updates on inflation from the U.S. Labor Department, which will release its Consumer Price Index for September on Wednesday.
It is a gauge of how inflation is pressuring costs for consumers. Additional information on inflation pressures for businesses is due Thursday when the Labor Department releases its Producer Price Index.
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Prices for oil and other energy have surged along with costs of other commodities. Shortages of semiconductors have meanwhile slowed output of many high-value industrial goods such as cars and consumer electronics.
On Tuesday, major indexes wavered between small gains and losses for much of the day on Wall Street, before selling gained momentum in the final minutes of trading. The S&P 500 slipped 0.2% to 4,350.65. The Dow dropped 0.3% to 34,378.34. The Nasdaq slipped 0.1% to 14,465.92.