Futures Pointing To A Roughly Flat Open On Wall Street

(RTTNews) - After moving notably higher over the past few sessions, stocks may show a lack of direction in early trading on Wednesday. The major index futures are currently pointing to a roughly flat open for the markets, with the Dow futures up by just 5 points.

Traders may look to take a breather following the recent upward move, which helped to lift the major averages well off the multi-month lows set last week.

The Nasdaq and the S&P 500 have closed higher for four consecutive sessions, although they remain well off their mid-September highs.

Uncertainty about the near-term outlook for the markets may keep traders on the sidelines as they continue to digest the latest batch of earnings news.

On the economic front, the Labor Department recently released a report showing a modest increase in consumer prices in the month of September.

The Labor Department said its consumer price index edged up by 0.1 percent in September following a 0.2 percent drop in August. The modest uptick came as a surprise to economists, who had expected prices to come in unchanged.

Excluding food and energy prices, the core consumer price index also inched up by 0.1 percent in September after coming in unchanged in the previous month. The increase matched economist estimates.