HPS.A:CC - Futures Rise Marginally as Interest Rate Concerns Loom

Stock futures rose marginally on Wednesday morning as investors await key U.S. inflation data that will inform the Federal Reserve's path on rate policy.

Futures for the Dow Jones Industrials index hiked 68 points, or 0.2%, to 39,264.

Futures for the S&P 500 added 7.25 points, or 0.1%, to 5,267.50.

Futures for the NASDAQ Composite took on 21 points, or 0.1%, to 18,380.75.

The March reading on consumer price index is slated for release at 8:30 a.m. ET. Economists polled by Dow Jones expect an increase of 0.3% month over month and 3.4% year on year. Economists expect core CPI, which excludes volatile food and energy prices, to rise 0.3% and 3.7%, respectively.

In addition to the big inflation report on Wednesday, investors are also looking forward to the meeting minutes from the Fed's gathering last month. They will be hunting for clues on where policymakers stand on expected rate cuts this year.

In Japan, the Nikkei 225 lost 0.5% Wednesday, while in Hong Kong, the Hang Seng gained 1.9%.

Oil prices rocketed up 58 cents to $85.81 U.S. a barrel.

Gold prices brightened $4.50 to $2,366.90 U.S. an ounce.