Boeing Wins $20 Billion Contract Amid Mixed Earnings Reports

U.S. stock index futures traded near flat on Wednesday as investors looked forward to key inflation data and upcoming earnings from semiconductor companies.

The personal consumption expenditures price index for August, the Fed's preferred inflation gauge, is due out today, and economists expect it to remain above the central bank's 2% annual target.

In other news, Boeing shares rose 3% in premarket trading after the Pentagon announced a $20 billion contract for the development of the F/A-XX next-generation carrier-based strike fighter. The company beat out rival Northrop Grumman for the contract and marks its second consecutive sixth-generation fighter program win.

In contrast, Moderna shares fell 11.1% after reporting disappointing quarterly results that missed revenue expectations and cut its full-year guidance. The company also took a $1.05 billion non-cash goodwill impairment charge in the quarter.