Wall Street futures pointed sideways pre-bell Tuesday as traders took to the sidelines ahead of the pending inflation report from Washington, while weighing the turmoil in the Middle East. The November consumer price index, or CPI, is set to be released pre-bell Wednesday, which could prompt shifts for the Federal Reserve during their scheduled policy meeting on December 17 to 18.
In futures trading, the S&P 500, Nasdaq, and Dow Jones remained close to their Monday closes, just shy of all-time highs. Asian exchanges had a choppy session overnight, with Seoul regaining some ground after Monday's losses following a reduction in domestic political tensions. Meanwhile, European markets tracked moderately lower around midday.
Oracle traded down 8.4% in pre-bell trading after the IT giant delivered weaker-than-expected fiscal Q2 results late Monday. Other companies like AutoZone, Ferguson Enterprises, and Ollie's Bargain Outlet are also lined up to report earnings before the bell. The thin economic calendar features the NFIB Small Business Optimism Index at 6 am ET and the national revised Q3 productivity and costs report at 8:30 am.
In premarket action, Bitcoin was trading at $97,850, West Texas Intermediate crude oil dipped to $68.04, while 10-year US Treasuries yielded 4.21%. Spot gold was priced at $2,669 per ounce..