08:16 AM EDT, 06/12/2024 (MT Newswires) -- US stock futures are trending marginally higher in Wednesday's premarket activity as investors await key inflation data and the Federal Reserve's interest rate decision, both scheduled for today.

The Dow Jones Industrial Average futures were up 0.1%, S&P 500 futures gained 0.1%, and Nasdaq futures were moving nearly 0.2% higher.

Oil prices were moving sharply higher, with front-month global benchmarks Brent crude and West Texas Intermediate crude climbing 1.1% and 1.2% respectively.

Inflation data, which is scheduled to be released at 8:30 a.m. ET, is expected to show that consumer prices rose 0.1% in May from April, when it increased 0.3% from the previous month, according to Investing.com. The annual rate is expected to remain unchanged at 3.4%.

The Fed's Federal Open Market Committee, which kicked off its June meeting Tuesday, is expected to keep rates unchanged when it announces its decision later this afternoon.

On the winning side, shares of Golden Heaven Group ( GDHG ) surged 72% in recent premarket activity Wednesday, adding to a marginal gain from the previous session. Wang & Lee Group's ( WLGS ) shares jumped 44%, adding to a more than 16% gain on Tuesday. Shares of Beamr Imaging ( BMR ) advanced 23% after the company said late Tuesday that its cloud solution is now available on Oracle's (ORCL) Cloud Marketplace.

On the losing side, shares of ThermoGenesis ( THMO ) fell 38% after the company reported in a regulatory filing late Tuesday that Nasdaq denied its request for continued listing on the exchange, and that its common stock will be suspended on June 17. Tonix Pharmaceuticals' ( TNXP ) stock tumbled 37% after the company announced late Tuesday a common stock offering, the size of which was not disclosed. Shares of Kwesst Micro Systems ( KWE ) dropped 21%, wiping out Tuesday's 17% gain.