U.S. stock futures wavered ahead of key inflation data.

Before the market opened, the S&P 500 (^GSPC) added 0.1%, while the Dow Jones Industrial Average (^DJI) gained 0.2%. Futures tied to the technology-heavy Nasdaq Composite (^IXIC) ticked just below the flatline.

Bonds yields were higher. The yield on the 10-year note ticked up to 3.458%, while rate-sensitive two-year note yields added 4.062% Wednesday morning.

Stocks finished mixed Tuesday, with the tech sector hiccuping as all eyes turned to the important inflation data out Wednesday, as well as the start of earnings season.

The consumer price index (CPI) report is first up Wednesday morning. Economists surveyed by Bloomberg expect March’s consumer price index to add 0.3% from February’s figure, sliding the year-over-year inflation rate to 5.2%.

“While we still expect core inflation to ease further in coming months, progress could continue to be bumpy,” wrote the U.S. market intelligence team at JPMorgan in a note Wednesday morning.

As inflation continues to run at a rapid clip, Wednesday’s CPI report will give investors some clues to whether the Fed will continue to raise rates at its next meeting. Markets have priced in a 76% probability that the Federal Reserve will raise interest rates by another 0.25% in May, according to data from the CME Group.

On Tuesday, three Fed speakers weighed in on the prospect of another rate hike ahead of the May meeting. New York Fed President John Williams told Yahoo Finance's Jennifer Schonberger that the Federal Reserve has its work cut out for it as the central bank tries to bring down inflation to the Fed's goal of 2% amid a strong labor market and sticky price pressure.

Separately, Philadelphia Fed President Harker said that he wanted to "get rates above 5[%] and then sit there for a while," which would imply at least one more 0.25% move.

Meanwhile, Chicago Fed President Austan Goolsbee struck a more dovish tone, suggesting that the Fed should proceed with caution when raising rates “too aggressively” until it can assess “ how much work the headwinds are doing for us in getting down inflation.”

Other key indicators from policymakers will be the release of the FOMC minutes from the March meeting on deck for Wednesday afternoon, as well as the rate decision from the Bank of Canada.

In single-stock moves, WW International, Inc. (WW) shares of the WeightWatchers parent edge higher Wednesday morning following the news that the company closed its deal with a telehealth provider, which will help expand its footprint in the growing market for new obesity drugs.

Shares of Snowflake Inc. (SNOW) ticked up after the software services provider disclosed with the Securities and Exchange Commission (SEC) on Monday that executives and board members had donated and sold its shares.

—

Dani Romero is a reporter for Yahoo Finance. Follow her on Twitter @daniromerotv

Click here for the latest stock market news and in-depth analysis, including events that move stocks

Read the latest financial and business news from Yahoo Finance

Download the Yahoo Finance app for Apple or Android

Follow Yahoo Finance on Twitter, Facebook, Instagram, Flipboard, LinkedIn, and YouTube