U.S. stock futures wavered after data showed an unexpected rise in producer prices in October, as increased costs for food and services overrode a decline in the cost of fuel.
"This morning we actually got a whiff of inflation in the PPI number, which came in hotter across the board. A modicum of inflation is good," said Art Hogan, chief market strategist at Wunderlich Securities.
"We repeat our March 2015 rate hike expectations," emailed Peter Boockvar, chief market analyst at the Lindsey Group, after the government reported a 0.2 percent gain in wholesale costs last month.
Ahead of the Labor Department report, Dow component Home Depot reported numbers that were better than expected.
Read MoreHome Depot earnings top expectations
Other companies to watch include SunEdison and unit TerraForm Power, after they said they would buy First Wind for $2.4 billion in a bid to enter the U.S. wind power market.
The NAHB Housing Market Index for November is expected at 10 a.m. Eastern. There will also be the latest capital flow figures, for September.
Away from the data prints, the head of the Federal Reserve of Minneapolis, Narayana Kocherlakota, will be speaking on monetary policy outlook this afternoon.