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Amgen ( AMGN ) gains after dismissing concerns related to its new

weight-loss drug

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Rivian soars after Volkswagen increases investment

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Spirit Airlines ( SAVE ) plummets after report says preparing for

bankruptcy filing

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Futures down: Dow 0.29%, S&P 500 0.21%, Nasdaq 0.24%

(Updated at 07:18 a.m. ET/1218 GMT)

By Lisa Pauline Mattackal and Purvi Agarwal

Nov 13 (Reuters) - U.S. stock index futures edged lower

on Wednesday as Treasury yields moved higher and weighed on

rate-sensitive equities ahead of crucial inflation data that

will offer more clarity on the pace of the Federal Reserve's

interest rate reductions.

All three major Wall Street indexes closed lower on Tuesday,

as a strong rally following the U.S. election lost some steam,

while the benchmark U.S. 10-year Treasury yield

moved above the 4.4% level on expectations that President-elect

Donald Trump's policies could exacerbate inflation.

"U.S. CPI will be a key factor in the Fed's decision next

month. It is particularly important this time around, as there's

been speculation the Fed might skip this meeting and not cut at

all," Deutsche Bank analysts said.

With investors seeing a 58.7% chance of a 25-basis point

interest rate cut at the Fed's December meeting, according to

CME FedWatch, October's consumer price index figures will be

closely watched to see if inflationary pressures are easing.

Economists polled by Reuters see core inflation rising 0.3%

and the headline number up 0.2% on a monthly basis. The CPI data

is due at 8:30 a.m. ET.

Dow E-minis were down 129 points, or 0.29%, S&P 500

E-minis were down 12.75 points, or 0.21%, and Nasdaq 100

E-minis were down 51.5 points, or 0.24%.

Most rate-sensitive megacap stocks were lower in premarket

trading, with Meta Platforms ( META ) and Microsoft ( MSFT )

losing 0.3% each.

EV maker Tesla, however, gained 1.8% after closing

down 6.2% in the previous session.

Futures tracking rate-sensitive small-cap companies

also edged down 0.3%.

Despite the declines on Tuesday, Wall Street has been

largely upbeat over the past few days, expecting Trump's

pro-business stance and possible tax cuts to buoy corporate

growth, even as some worries remain over higher tariffs and

inflation.

The S&P 500 has gained about 3.5% since the close on

Nov. 5, and is on track for year-to-date gains of more than 25%.

A Bank of America's monthly fund manager survey showed

global investors see higher growth than they did before, as well

as higher inflation, in the wake of the U.S. election results.

Spirit Airlines' ( SAVE ) shares plunged 66.5% after a

report the U.S. carrier is preparing to file for bankruptcy

protection, while the company said it is in talks with

creditors.

EV maker Rivian soared 9.2% after Volkswagen

on Tuesday raised its investment in the company by

16% to $5.8 billion.

Amgen ( AMGN ) gained 1.8% after the company said there was

no link between its experimental weight-loss drug and changes in

bone mineral density, following data from an early-stage study

that weighed on the stock in the prior session.

Caterpillar ( CAT ) slipped 1.7% after brokerage Evercore

ISI downgraded the heavy equipment maker's shares.

Fed officials Lorie Logan, Alberto Musalem and Jeffrey

Schmid are scheduled to speak later in the day.