US markets point to mixed open

U.S. stock index futures pointed to a mixed open on Wednesday as traders eyed further comments from the Federal Reserve as well as a host of earnings reports and economic data.

The data for the consumer price index (CPI) came in better than expected, which will lead to strengthening of the dollar.

Janet Yellen will speak at 17:00h and increased volatility is expected in dollars crosses and at 17:30h will be published data on US oil stocks.

Federal Reserve Chair Janet Yellen is due to testify before the House Financial Services Committee for a second consecutive day. Her comments regarding U.S. economic policy on Tuesday triggered a bond market rout and helped drive stocks to new highs.

In Europe, the pan-European Stoxx-600 index was around 0.3 percent higher on Wednesday morning. In Asia, the Shanghai Composite in China closed 0.16 percent lower, while the Nikkei in Japan closed 1.03 percent higher.

In oil markets, prices dipped slightly amid concerns that OPEC producers would not be able to continue reducing global oversupply at the rate it had pledged in a landmark deal which took effect in January.

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