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Futures: Dow down 0.17%, S&P 500 up 0.06%, Nasdaq up 0.16%

Dec 11 (Reuters) - U.S. stock index futures were

range-bound on Wednesday as investors stayed on the sidelines

ahead of a pivotal inflation reading due later in the day that

could influence the Federal Reserve's policy decision this

month.

A November reading of the consumer price index (CPI), due at

8:30 a.m. ET, is among the final major datasets ahead of the

Fed's Dec. 17-18 meeting.

The report is expected to show that headline inflation rose

0.3% on a monthly basis and to 2.7% on an annual basis in the

last month, still above the Fed's 2% target.

The core figure, which excludes volatile components such as

food and energy, is expected to remain unchanged at 3.3%

year-on-year.

The inflation rate has been rising again gradually since

October and "an end to this short-term upward trend would be

necessary to confirm the expectation of three interest rate cuts

in the next six months," Jochen Stanzl, chief market analyst at

CMC Markets, wrote in a morning note.

"The Fed wants to see further progress and does not yet

consider the fight against inflation to be over. As long as the

labor market does not cool down faster, it has time to continue

monitoring the situation."

Trader bets currently price in an over 86% chance of the

central bank delivering a 25 basis point cut next week,

according to CME's FedWatch Tool. Bets had jumped following

Friday's employment report, which showed an uptick in

unemployment alongside a surge in job growth.

Investors will be also looking for any hints of a slower

pace of rate cuts next year, after numerous Fed officials last

week urged caution on the monetary policy easing cycle against

the backdrop of a resilient economy.

At 5:27 a.m. ET, Dow E-minis were down 75 points,

or 0.17%, S&P 500 E-minis were up 3.5 points, or 0.06%,

and Nasdaq 100 E-minis were up 33.5 points, or 0.16%.

Wall Street's main indexes ended the previous session lower,

weighed down by heavyweight technology stocks, yet the S&P 500

and the Nasdaq were near record high levels.

Technology companies have led most of the market's rally

this year, benefiting from the euphoria around artificial

intelligence and the prospects of lower interest rates.

U.S. equities have had a broadly positive start to December,

with the S&P 500 and the Nasdaq clocking gains in their first

week, after ending November on a high note.

Also on the docket this week is a producer prices reading

due on Thursday.

Among premarket movers, GameStop ( GME ) gained 3% after the

videogame retailer reported a profit for the third quarter after

ramping up cost-saving efforts.

General Motors ( GM ) was up 1.2% after the automaker said

on Tuesday that it will end robotaxi development at its

majority-owned, money-losing Cruise business.

GE Vernova slipped 4.9% as the company's chief

executive officer said he was cautious about the outlook for its

wind sector even though it had resumed installing turbines at

two offshore wind farms.