Wall Street futures pointed modestly lower pre-bell Wednesday as traders weighed easing oil prices and awaited the after-bell earnings release from semiconductor and AI industry bellwether Nvidia (NVDA).

In the futures, the S&P 500 fell 0.1%, the Nasdaq declined 0.1% and the Dow Jones was steady.

West Texas Intermediate crude oil traded down 2.5% at $80.31 in morning hours.

Traders also await the personal consumption expenditures-core (PCE-core) price index report for July from Washington, slated for an 8:30 am ET release. The Federal Reserve's preferred inflation gauge will be parsed for clues into how general inflation is faring, given higher energy bills.

Asian exchanges traded mostly higher overnight, and European bourses edged north midday on the continent.

Intuit (INTU) traded down 11% pre-bell after the software enterprise reported fiscal Q4 earnings and revenue above expectations, but offered tepid guidance late Tuesday.

On the economic calendar, in addition to the PCE-core bulletin, is the durable goods orders report for July at 8:30 am ET, along with the revised Q2 gross domestic product (GDP) estimate, and the Q2 corporate profits release.

The Atlanta Federal Reserve Survey of Business Uncertainty report for August is also scheduled for release later this morning, as well as the weekly EIA petroleum status bulletin set for 10:30 am.

Federal Reserve Richmond President Thomas Barkin is slated to speak on Wednesday.

In premarket action, Bitcoin traded at $78,623, and 10-year US Treasuries offered 4.64%. Spot gold commanded $4,620 an ounce.