Stock futures rose Wednesday as bond yields pulled back after the latest U.S. inflation report strengthened the case for the Federal Reserve to keep interest rates unchanged in October.

Moderna dropped 7.3%. Citi downgraded shares to Sell from Hold, saying the stock's recent rally has outpaced its fundamentals. Moderna's stock surge came after it offered a clinical update with Merck for their cancer vaccine candidate, which sent Moderna sharply higher.

Concentrix fell 7.9% after the business processing outsourcing company missed analysts' third-quarter revenue targets as it struggles to navigate a costly shift toward artificial-intelligence-powered tools.

Boeing rose 2.5% ahead of the opening bell after the plane maker won a multibillion-dollar contract to make a Navy fighter jet. Boeing was competing with Northrop Grumman, which slid 3.5%.

Hewlett Packard Enterprise gained 5.3%. The company raised its fiscal 2027 revenue outlook for its networking business segment ahead of an investor day event.

Jabil fell 2.5% even after the contract manufacturer posted better-than-expected earnings for the fiscal fourth quarter and fiscal 2026.

Robinhood advanced 5.2%. The online trading platform said at a summit in Houston that it would roll out artificial-intelligence agents that can trade on users' behalf and launch 24/7 weekend trading for equities.

Cal-Maine Foods declined 7.4%. The egg producer reported a quarterly sales drop of over 40% as the prices of eggs fell dramatically from a year ago.

Hormel Foods rose 1.4%. The food company said it would acquire chicken manufacturer Brakebush Brothers for approximately $1.06 billion. The deal will expand Hormel Foods' protein offerings in value-added chicken.

GameStop gained 2.3% after the videogame retailer disclosed CEO Ryan Cohen acquired 450,000 shares of common stock for $23.48 a share Tuesday.

Memory-chip maker Micron is scheduled to report earnings after the close of trading Wednesday.