- US stock futures traded in a limited range, with many investors remaining on the sidelines ahead of a critical US inflation report. The 10-year Treasury rate has fallen back below 4%.

- Contracts on the tech-heavy Nasdaq 100 rose somewhat, while those on the S&P 500 index were little changed. Brent fell to about $77 per barrel, reversing an earlier gain following additional attacks on tankers in the Red Sea, which could disrupt both oil supplies and trade movements.

- Investors are watching Thursday's US inflation numbers for indications on when the Federal Reserve will decrease interest rates. The reduction in headline inflation is expected to reverse in December statistics. The impact of interrupted supply chains raises risks and may disappoint investors who expect the Fed to drop interest rates as early as March, according to Justin Onuekwusi, chief investment officer at St James's Place Management.

- "These days we have all become obsessed with the next data print given their impact on how rate cuts are being priced," he said. "What I'd look for is whether there are any signs of supply constraints coming back into the market because of geopolitical risks in the Mideast and the shipping traffic in the Red Sea not flowing like it used to."

- Government bonds advanced, with benchmark Treasury rates falling below 4% for the first time in nearly a week. Investors are preparing for a tsunami of supply worth $2.1 trillion over the next few weeks. Investors placed record orders for Spanish bonds on Wednesday, following a trend of massive debt sales observed in the European market at the start of 2024.