U.S. stock futures were rising early Wednesday after indexes reached new highs on the back of encouraging inflation data, firming up bets on a September rate cut from the Federal Reserve.

Dow Jones Industrial Average futures were up 97n points, or 0.2%. S&P 500 futures were up less than 0.1% and Nasdaq 100 futures were rising 0.2%.

The S&P 500 and Nasdaq Composite indexes hit record highs on Tuesday following consumer price index data showing core prices rising 3.1% over the past 12 months but lower-than-feared goods inflation, suggesting a limited inflationary effect from tariffs.