Stocks Seen Flat to Slightly Off at Open NEW YORK (Reuters) - Stock futures pointed to a flat to slightly lower open on Wednesday, with investors bracing for a key inflation figure and with oil prices still firmly above $50 a barrel. Merger activity may give markets a shot in the arm, as Medco Health Solutions Inc. (MHS.N: Quote , Profile , Research ) said it would buy specialty pharmacy services provider Accredo Health Inc. (ACDO.O: Quote , Profile , Research ) for about $2.2 billion to broaden its reach in the pharmacy benefits business. In two other moves, banana and fruit distributor Chiquita Brands International (CQB.N: Quote , Profile , Research ) is buying bagged salad maker Fresh Express from Performance Food Group (PFGC.O: Quote , Profile , Research ) for $855 million, and Las Vegas gaming giant Harrah's Entertainment (HET.N: Quote , Profile , Research ) said it plans to team up with Singapore's Keppel Land (KLAN.SI: Quote , Profile , Research ) in a joint $3.3 billion plan to build Singapore's first casino resort. S&P 500 futures (SPH5: Quote , Profile , Research ) were down 0.9 of a point, about even with fair value accounting for interest rates, dividends and time to expiration on the contract, indicating the S&P would open flat. Dow Jones industrial index futures (DJH5: Quote , Profile , Research ) were down 6 points, while Nasdaq 100 (NDH5: Quote , Profile , Research ) futures fell 4 points. "The big driver of the day is going to be the CPI figure. It's the most important economic number of the week and will give us a look at inflationary pressure. If the core number is ugly, we'll see that weigh on stocks," said Peter Cardillo, chief market analyst and chief strategist at SW Bach and Co. The consumer prices index is due at 8:30 a.m. (1330 GMT). Investors will look for any clues of a pick up in inflation after last week's surprise jump in producer prices raised concerns about an acceleration in U.S. Federal Reserve interest rate tightening. A Reuters poll of economists forecast consumer prices will show a 0.2 percent rise in January after a 0.1 percent decline in December. The core consumer price index, stripping out volatile food and energy costs, is also expected to be up 0.2 percent, after a 0.2 percent December rise. Markets will also look for the release at 2 p.m. (1900 GMT) of the Federal Open Market Committee's minutes from its Feb. 1-2 meeting, where it raised rates to 2.5 percent. Meanwhile, the dollar bounced back against the euro as South Korea said long-term plans to diversify its foreign exchange reserves did not mean it would sell the U.S. currency, and after a Japanese Finance Ministry official told Reuters that Japan had no plans to diversify its FX reserves by buying euros. On Tuesday the dollar suffered its biggest one-day fall against major currencies since December. Crude will remain one of the market's main concerns, with prices held above $51 a barrel by frigid weather in Europe and the United States, and Tuesday's sharp decline in the dollar. Rising oil prices raises concerns that higher energy costs will pinch corporate profits and curb consumer spending. On Tuesday, the Dow Jones industrial average closed down 174.02 points, or 1.61 percent, at 10,611.20. The Standard & Poor's 500 Index fell 17.43 points, or 1.45 percent, to 1,184.16. The technology-laced Nasdaq Composite Index was down 28.30 points, or 1.37 percent, at 2,030.32. (Additional reporting by Marie Maitre Quelle "Stocks Seen Flat to Slightly Off at Open" : reuters.com Main page for "Stocks Seen Flat to Slightly Off at Open"