07:08 AM EST, 11/13/2024 (MT Newswires) -- US equity futures were tracking in the red in Wednesday's premarket activity as traders await a key inflation report.

Standard & Poor's 500 and the Nasdaq declined 0.2% each before the opening bell, while the Dow Jones Industrial Average was off 0.3%. The majority of Asian and European exchanges were trending downward.

The consumer price index report for October is scheduled for an 8:30 am ET release. Wednesday's economic calendar also has the weekly mortgage applications bulletin at 7 am.

Federal Reserve Bank of Dallas President Lorie Logan is set to speak at 9:45 am, while St. Louis Fed President Alberto Musalem speaks at 1 pm. Kansas City Fed President Jeffrey Schmid is slated to speak at 1:30 pm.

Shares of Spotify Technology ( SPOT ) advanced 7.8% pre-bell as the audio and music streaming company gained more premium subscribers than anticipated in the third quarter, helping offset lower-than-expected earnings and revenue. Rivian Automotive ( RIVN ) jumped 12% as the automaker boosted its $5.8 billion joint venture with Volkswagen.

Spirit Airlines ( SAVE ) plunged 65% following media reports that the company may seek bankruptcy protection after merger discussions with rival Frontier Group ( ULCC ) fell apart. CAVA Group ( CAVA ) advanced 15% after reporting its quarterly results.

CyberArk Software ( CYBR ) , Tower Semiconductor ( TSEM ) , Hudbay Minerals ( HBM ) and Griffon (GFF) report their latest financial results before the bell, among others. Cisco Systems ( CSCO ) posts earnings in the afterhours.

In the premarket, bitcoin decreased 2% to $87,856, West Texas Intermediate crude oil inclined 0.4% to $68.39 per barrel, yields on 10-year Treasuries were down 1.7 basis points to 4.42% and gold rose 0.3% to $2,612 an ounce.