Stock Market Today: Dow, S&P 500 Futures Fall As Wholesale Prices Tick Up In Feb And Fed Decision Looms— Lululemon, CF Industries In Focus (UPDATED)

(Editor’s note: The future prices of benchmark tracking ETFs, the lede, and the headline were updated in the story.)
U.S. stock futures pared gains to decline on Wednesday following Tuesday’s positive close. Futures of the major benchmark indices were lower.
Wholesale inflation accelerated more than expected in February, with the Producer Price Index (PPI) for final demand jumping 0.7%. This marked a significant pickup from January's 0.5% increase, driven by a broad-based 1.1% spike in goods prices—the largest rise since mid-2023.
On a year-over-year basis, the unadjusted index for final demand rose 3.4%. Meanwhile, Core PPI, which excludes volatile food, energy, and trade services, advanced 0.5% for the month and climbed 3.5% over the last 12 months, marking its tenth consecutive monthly