U.S. stock futures were little changed on Wednesday morning as traders await the release of the Federal Reserve's favorite inflation gauge.

Futures tied to the Dow Jones Industrial Average added 30 points, or 0.07%. Meanwhile, S&P 500 futures flickered near the flatline, while Nasdaq-100 futures fell 0.11%.

In other corporate news, several companies released their quarterly results. Dell Technologies tumbled 11% in extended trading as the company issued a disappointing forecast for the current quarter.

Looking toward Wednesday, the personal consumption expenditures price index (PCE) is set for release at 10:00 a.m. ET. Economists polled by Dow Jones expect a year-over-year increase of 2.8% for the core reading, which excludes food and energy. Investors will look through the data for indications on how the Fed may proceed on its rate policy at its December meeting.

Indeed, the Fed issued the meetings from its November meeting on Tuesday. While central bank officials said they anticipate more interest rate cuts coming down the pike, they said the pace of cuts would happen "gradually."

"I think they'll cut again [in December]," Stephen Stanley, Santander U.S. Capital Markets chief U.S. economist, told CNBC's "Power Lunch." "I think they feel like they're still pretty far away from neutral, so they feel like they still have some distance to go and they'd like to get another notch in their belt on that."

Other key data out on Wednesday include personal income and consumer spending for October. That's also scheduled to be released at 10:00 a.m. ET.

It's also a shortened trading week in the U.S., with the market dark for the Thanksgiving holiday on Thursday and then set to close early Friday. Trading volume is anticipated to remain light. Even still, stocks finished in the green across the three major averages on Tuesday. Both the S&P 500 and the Dow reached fresh intraday and closing highs.

Small-cap benchmark takes a breather but remains on track for big November gains

It was a less-than-stellar session for the Russell 2000, as it clipped a six-day winning run on Tuesday.

The small-cap index lagged the three major averages, slumping about 0.7%, while the S&P 500 and the Dow Jones Industrial Average rose to fresh record closes.

Nevertheless, the Russell 2000 is enjoying a strong November, as investors have snapped up cyclical stocks since Donald Trump won a second term in the White House earlier this month.

The Russell is on track for a 10.4% jump month to date, besting the 5.5% gain the S&P 500 is carrying this month. The small-cap benchmark has also topped the Nasdaq Composite's nearly 6% advance in November and the Dow's 7.4% jump.

—Darla Mercado, Chris Hayes

Dell Technologies, Workday among the names making moves in overnight trading

Some stocks are making big moves in extended trading:

• Dell Technologies – The stock tumbled more than 10% on the heels of the company posting weaker-than-expected revenue for the fiscal third quarter. Dell posted $24.37 billion for the period, which is lower than the $24.67 billion that analysts had penciled in, according to LSEG. Adjusted earnings, however, beat Wall Street's expectations.
• HP – Shares slid 7% after the personal computing company offered weaker-than-expected earnings guidance for its fiscal 2025 first quarter. HP expects to earn between 70 cents and 76 cents, excluding items, while analysts polled by FactSet were anticipating 85 cents per share for the period.
• Workday – The stock slid 10% after the human resources software company announced that it sees its subscription revenues and its operating margin coming in lower-than-expected for the fourth quarter. Workday forecasted $2.025 billion in subscription revenues and an operating margin of 25% for the period, while analysts polled by StreetAccount estimated $2.04 billion in subscription revenues and an operating margin of 25.5%.

Read here for the full list.

— Sean Conlon

Stock futures are little changed

Stock futures opened little changed on Tuesday evening.

Futures tied to the Dow Jones Industrial Average gained 20 points, or 0.04%. S&P 500 futures likewise moved 0.04% higher, while Nasdaq-100 futures fell 0.03%.

— Sean Conlon