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U.S. stock futures were mostly higher early Tuesday as traders awaited a pivotal consumer inflation report and digested new comments from a key Federal Reserve official.
Futures for the Dow Jones Industrials bounced 159 points, or 0.3%, early Tuesday, to 52,657.
Futures for the S&P 500 took on one point to 7,575.25.
Futures for the NASDAQ Composite sank 105.50 points, or 0.4%, at 27,909.
Fed Governor Christopher Waller said in a speech Tuesday that he thinks a December rate hike is likely. He also opened the door for a larger half-point increase next month as inflationary pressures persist.
Waller’s comments came ahead of the October consumer price index report, due at 8:30 a.m. ET. Economists polled by Dow Jones see headline CPI growing at a rate of 0.3% and core CPI, which excludes volatile food and energy costs, rising 0.2% from the prior month.
This would mark a deceleration from September’s readings, when headline CPI grew 0.6% and core CPI advanced 0.3%.
Shares in Nvidia were up 0.6% in premarket trading, having shed more than 4% during Monday’s session following the revelations about CEO Jensen Huang.
Nvidia shares closed more than 4% lower on Monday, the day after Huang told staff in an email that he had been “unfaithful” to his wife and had “fallen short” of his responsibilities as CEO.
In Japan, the Nikkei 225 hiked 2.9% Tuesday, while in Hong Kong, the Hang Seng inched ahead 0.4%.
Oil prices ducked $1.61 to $85.24 U.S. a barrel.
Gold prices slid $30.50 to $4,084. U.S an ounce.
