Stock market today: Wall Street leans modestly lower as markets await Friday's inflation data

Wall Street drifted modestly lower before the bell Wednesday as markets digest corporate earnings while waiting for an important inflation update from the government on Friday. Futures for the S&P 500 were essentially flat, while futures for the Dow dipped 0.2%. Chipmaker Nvidia rose 2%, taking back more of the losses incurred during a recent three-day stretch during which 13% of its value vanished. Shares of Rivian soared 37% on news that Volkswagen will invest up to $5 billion in a new joint venture with the electric vehicle maker. The dollar breached the 160 yen mark, raising speculation of another intervention by Japan.