Australian shares are expected to open slightly higher on Wednesday, following a mixed session for US stocks overnight.
ASX futures were last up 8 points, or 0.1%, as of 7am AEST.
Among US indices, the Dow Jones slipped 0.2%, while the Nasdaq Composite and S&P 500 closed in positive territory, up 0.5% and 0.8% respectively.
JPMorgan's stock plunged 5.2% after the bank’s president warned at a financial conference that analysts were too optimistic about the company’s future expenses and net interest income, contributing to the Dow's decline.
Investors are now awaiting critical US consumer price index (CPI) data, set to be released on Wednesday night (AEST).
The month-on-month CPI figure to remain steady at 0.2%, with the annual figure predicted to ease to 2.5% from 2.9%. This data could play a significant role in the Federal Reserve’s upcoming meeting next week.
Meanwhile, energy stocks may see heightened activity after crude oil prices tumbled. Brent crude futures dropped below $70 per barrel for the first time in more than two years, closing at $69.19 a barrel, down 3.7%.
West Texas Intermediate (WTI) crude also plummeted 4.3%, settling at $65.75 per barrel, its lowest level since December 2021.
On the bond markets, 10-year and 2-year rates were at 3.877% and 3.565%, respectively.