Traders see another rate in December as likely after consumer and wholesale inflation this week were in line with expectations.

U.S. equity futures edged lower in early Wednesday trading, while Treasury yields moved higher and the dollar steadied, as investors looked to a key inflation reading that could accelerate repricing of the so-called 'Trump Trade' and test the market's solid post-election rally.

Inflation was in-line with expectations, leading investors to solidify bets for another quarter-point Fed rate cut in December.

Inflation accelerated slightly for the month of October, sparking concern the Fed could pause its interest rate-cutting cycle in January.