Stocks Mostly Up Pre-Bell as Traders Await Key Inflation Report, Economic Data

07:44 AM EDT, 09/30/2026 (MT Newswires) -- The main US stock measures mostly pointed higher in Wednesday's premarket activity as traders await the release of a key inflation report and economic data. The S&P 500 edged up 0.1%, and the Dow Jones Industrial Average added 0.2% before the opening bell, while the Nasdaq was slightly in the red. All three main indexes finished Tuesday trading lower for the second consecutive session. The personal income and outlays report for August is scheduled to be released at 8:30 am ET. The report includes the personal consumption expenditure core price index, the Federal Reserve's preferred inflation metric, as well as data on consumer spending. Data are expected to show that core PCE -- which excludes food and energy prices -- increased 0.3% sequentially and 3.3% annually, according to a Bloomberg-compiled consensus. Treasury yields were down early Wednesday, with the two-year rate retreating 2.1 basis points to 4.87% and the 10-year rate off 3.3 basis points to 5.22%. Federal Reserve Governor Michael Barr on Tuesday renewed calls for more interest rate increases to curb sticky inflation. New York Fed President John Williams also expects monetary policy to tighten, but he sees no urgency to act. "A potential lack of further upside acceleration - at least on an annual basis - could remove some sense of urgency for the Fed to take additional action in October," Stifel Chief Economist Lindsey Piegza said in a Tuesday note. "The still nominally elevated level of price pressures suggests the Fed has significant work to do to ensure a return to price stability, let alone in a timelier manner." Markets are currently pricing in a 57% probability that the Fed will leave its benchmark lending rate unchanged next month, with the remaining odds in favor of a 25-basis-point hike, according to the CME FedWatch tool. Wednesday's economic calendar also includes the third and final estimate of second-quarter gross domestic product, the ADP Employment report for September, international trade in goods data for August, the weekly mortgage applications bulletin, and the Chicago purchasing managers' index for the current month. Fed Governor Lisa Cook is scheduled to speak at 3:25 pm. West Texas Intermediate crude oil increased 1% to $90.31 a barrel Wednesday, while Brent moved up 0.6% to $103.19. In a social media post on Tuesday, President Donald Trump denied an Axios report that cited US officials as saying he was willing to give Iran relief from sanctions and release frozen funds in return for concrete Iranian steps over its nuclear program. "This is untrue. I offered them nothing!" Trump said in the post. Saudi Arabia has resumed oil tanker loadings from its Red Sea port of Yanbu after restarting operations on the East-West Pipeline, Reuters reported Tuesday, citing trade sources and shipping data. Micron Technology (MU) is scheduled to report its latest financial results after the markets close. Jabil (JBL), Conagra Brands (CAG) and Cal-Maine Foods (CALM) post earnings before the bell, among others. Gold gained almost 1% to $4,220 per troy ounce, while bitcoin nudged 0.3% higher to $83,827.