Stock futures drifted lower, with Nike shares down more than 10% premarket after it cut its revenue outlook.
One last batch of inflation data will test markets before Christmas.
A readout on price pressures, personal spending and incomes is due at 8:30 a.m. ET. Economists expect the report to affirm that inflation retreated last month, even as consumer spending rose.
The PCE data, which includes the Federal Reserve’s preferred measure of inflation, could bolster investor hopes that the Fed can guide the economy to a soft landing.