• Stocks in Asia are primed for a cautious open after a choppy day on Wall Street ended flat as investors balanced hot inflation data with Federal Reserve commentary suggesting US interest rates may soon peak.
• Shares in Australia fell and equity futures in Japan and Hong Kong inched higher. US futures edged lower in early Asian trading. The S&P 500 ended Tuesday little changed while the tech-heavy Nasdaq 100, which is more sensitive to higher interest rates, rose 0.7%.
• Equity bulls were also encouraged by one falling component of the CPI print. Core services minus housing, a measure singled out by Fed Chair Jerome Powell in the past, came in at a slower 0.3% pace in the month.