07:52 AM EDT, 08/12/2026 (MT Newswires) -- US equity futures were edging higher pre-bell Wednesday as traders looked forward to the latest national inflation report, which will be a major factor in the near-term direction of interest rates.

Dow Jones Industrial Average futures were 0.2% higher, S&P 500 futures were up 0.3%, and Nasdaq futures were 0.7% higher.

The conflict in the Middle East showed no signs of de-escalating, as US Central Command said in a post on X that it disabled a vessel in the Gulf of Oman that was in violation of the US blockade against Iran. In the Red Sea, a small Egyptian-owned cargo vessel was attacked by suspected Iran-backed Houthi forces, causing the deaths of six people, multiple media outlets reported.

Traders digested the latest round of earnings, with Amcor ( AMCCF ) posting higher fiscal Q4 adjusted earnings and net sales.

Cisco Systems ( CSCO ) is expected to report its fiscal Q4 earnings after the market closes. Analysts polled by FactSet expect earnings of $1.17 per share on revenue of $16.84 billion.

Oil prices were higher, with front-month global benchmark North Sea Brent crude up 0.2% at $89.06 per barrel and US West Texas Intermediate crude 0.4% higher at $83.50 per barrel.

The July consumer price index, scheduled for release at 8:30 am ET, is seen gaining 0.1%, compared with a 0.4% decline in the prior month, according to estimates compiled by Bloomberg.