Wall Street futures traded mixed on Tuesday evening as investors awaited US inflation data. Federal Reserve Governor Christopher Waller said he supported a rate hike in December, causing market caution. Meanwhile, Brent crude oil prices fell below USD 90 a barrel, and Indian markets remained closed for the Diwali holiday.
Wall Street futures traded mixed on Tuesday evening, India time, as investors awaited US inflation data due later in the day, while Federal Reserve Governor Christopher Waller's support for an interest rate hike next month added to market caution.
At around 5:15 pm IST, Nasdaq futures were down 0.2 percent, while S&P 500 futures were marginally higher at 0.11 percent. Dow Jones futures gained 0.35 percent.
Brent crude oil prices extended their losses, briefly falling below USD 90 a barrel for the first time since August, amid growing optimism over a possible peace deal in West Asia.
The decline in oil prices initially lifted US stock futures, but the gains faded after Waller backed an interest rate hike in December, just hours ahead of the inflation report. He said he supported a quarter-percentage-point increase next month and was open to a larger hike, reported Bloomberg.
Nvidia Corp shares were little changed, holding on to losses following news of the controversy surrounding Chief Executive Officer Jensen Huang.
Investors are awaiting the inflation data after bond yields fell sharply following a Democratic midterm sweep, which triggered a selloff in technology stocks and a rush towards safe-haven assets.
Investors are also keeping an eye on the upcoming initial public offering of Anthropic PBC.
Indian stock markets remained closed on Tuesday on account of Diwali Balipratipada. The holiday followed Monday's session, when benchmark indices recovered from early losses to close at their highest levels in more than eight months.
Siddhartha Khemka - Head of Research, Wealth Management, Motilal Oswal Financial Services Ltd, said "Investors will now track US October CPI data tomorrow, which will shape expectations for a possible Fed rate hike in December after the stronger-than-expected US jobs report. They will also follow India’s October CPI inflation on Thursday, after September inflation rose to a 2026 high of 5.54%. On the geopolitical front, US President Trump’s meeting with the Qatar Prime Minister, who is mediating fresh proposals in the US-Iran talks, will be watched closely for its bearing on crude prices."
Elsewhere, MSCI's gauge of Asian stocks rose 1.9 percent, tracking gains on Wall Street in the previous session. Europe's Stoxx 600 advanced 0.9 percent, led by gains in banking and industrial stocks.