U.S. futures retreated marginally during early trading on Wednesday as Google parent company Alphabet Inc faces an antitrust case by the US Department of Justice. The Department of Justice is considering breaking up the Google search engine as part of its widespread antitrust crackdown on Big Tech.
Contracts on the S&P 500 slipped by 0.3%, while futures on the tech-heavy Nasdaq 100 slumped by 0.5%. Futures on the Dow Jones Industrial Average fell by 0.2%. Across the pond, the Europe Stoxx 600 index remained relatively unchanged.
Investors are awaiting the minutes from the latest Federal Reserve policy meeting which are set to be released later on Wednesday. This will be followed by the latest US Consumer Price Index report on Thursday. While observers are on the lookout for signs of a potential interest rate cut by the central bank, Fed Bank of Boston President Susan Collins warned that rate cuts will need to be carefully considered on the back of sufficient data-driven evidence.