US stock futures wavered as investors digested new inflation data and awaited updates on US-Iran talks and President Trump’s trip to China.

Futures attached to the Dow Jones Industrial Average (YM=F), the benchmark S&P 500 (ES=F), and the tech-heavy Nasdaq 100 (NQ=F) hugged the flat line.

In day trading on Tuesday, stocks mostly fell after April’s inflation report raised concerns about rising prices amid the Iran war and reinforced bets the Federal Reserve will hold interest rates steady at its next meeting.

Meanwhile, US diplomacy continues to stoke uncertainty on Wall Street. President Trump is traveling to China for a summit with Chinese President Xi Jinping, where the two leaders are expected to discuss trade and AI. Trump invited a number of American CEOs, including Tesla’s Elon Musk and Apple’s Tim Cook, to join him on the trip.

The visit comes as US negotiations with Iran are under pressure, with the president warning the ceasefire agreement between the two countries is on “life support.” Oil prices have steadily climbed this week amid the standoff.

On Wednesday, investors will get another update on inflation with the release of wholesale inflation figures. Trump’s pick for Federal Reserve chair, Kevin Warsh, is also set to be confirmed by the Senate. Finally, earnings season continues, with Cisco Systems (CSCO), Alibaba Group (BABA), and Birkenstock (BIRK) reporting results.