US stock futures were tracking higher in Tuesday's premarket session as investors awaited key inflation data.

Dow Jones Industrial Average futures were up 0.27%, S&P 500 futures were 0.30% higher, and Nasdaq futures gained 0.33%.

Oil prices were moving lower, with front-month global benchmarks Brent crude and West Texas Intermediate crude declining 0.36% and 0.26% respectively.

The producer price index for December, a measure of wholesale inflation, will be released at 8:30 am ET. The index is expected to increase 0.4%, the same as the previous month, according to Bloomberg. The core PPI, which excludes food and energy, is expected to rise 0.2%, also the same as in November.

Among rising stocks, Nature's Miracle (NMHI) soared 143% in Tuesday's premarket session, erasing a 38% loss from Monday. H&E Equipment Services (HEES) shares jumped 107% after the company agreed to be acquired by United Rentals (URI) in a deal worth about $4.8 billion. And Staffing 360 Solutions (STAF) surged 61%, a day after it said an amendment to its merger agreement with Atlantic International will allow it to convert certain borrowings into equity.

On the losing side, Mineralys Therapeutics (MLYS) fell 6.5%, adding to a 5.2% loss on Monday. Bogota Financial (BSBK) shares tumbled 32% after rising 2.8% the previous session. And shares of Cryo-Cell International (CCEL) dropped 27% after gaining 2.1% on Monday.