Wall Street futures were mixed pre-bell Wednesday as traders digested earnings reports, including weak Starbucks (SBUX) quarterly results that may suggest lagging consumer spending power.

In the futures, the S&P 500 fell 0.3%, the Nasdaq declined 0.5%, but the Dow Jones was up 0.1%.

Tech giants Microsoft (MSFT) and Meta Platforms (META) report after-bell.

In economic news, the personal consumption expenditure index-core (PCE-core) inflation metric for March, the Federal Reserve's preferred inflation gauge, will post in Washington at 10 am ET. The consensus is for a 2.6% year-on-year rise, a bit above the central bank's 2% annual target.

The advance Q1 gross domestic product (GDP) estimate will post at 8:30 am ET in Washington.

Key US oil prices declined below $60 a barrel for the first time since early 2021, in morning action.

Asian exchanges traded unevenly higher overnight, while European bourses tracked moderately north midday on the continent.

In the earnings season, Caterpillar (CAT) traded up 2.3% pre-bell even after the heavy-equipment manufacturer reported Q1 adjusted earnings and revenue below Street views.

Parsons (PSN) traded up 2% pre-bell after the tech and defense outfit reported Q1 earnings above Street views, missed on revenue and affirmed full-year guidance.

Stanley Black & Decker (SWK) traded up 1.2% pre-bell after the tool-maker reported Q1 adjusted earnings and revenue above consensus, but tempered guidance.

Starbucks fell past 8% pre-bell after the coffee-house chain reported fiscal Q2 earnings and revenue below Street views, late Tuesday.

On the economic calendar, in addition to the PCE-core bulletin, is the private-sector ADP Employment Report for April at 8:15 am ET.

The Q1 GDP estimate and the Q1 employment cost index post at 8:30 am.

The April Chicago PMI posts at 9:45 am.

The March personal income and outlays report posts at 10 am, along with the March pending home sales index.

The weekly EIA petroleum status bulletin posts at 10:30 am.

In premarket action, Bitcoin traded at $94,922, West Texas Intermediate crude oil traded lower at $59.90, and 10-year US Treasuries offered 4.16%. Spot gold traded for $3,279 an ounce.