Source: Sharecast
As of 1240 BST, Dow Jones futures were down 0.02%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.19% and 0.31% firmer, respectively.
The Dow Jones closed 49.23 points higher on Monday, taking a bite out of losses recorded in the previous session, as stocks were buoyed Donald Trump's upbeat comments on trade negotiations with China and gains in heavyweight tech names.
Attention now turns to the Federal Reserve's policy meeting, which begins Tuesday, with a rate decision due on Wednesday. Futures markets have now priced in a 100% probability of a 25-basis point cut this month, though traders will also scrutinise chairman Jerome Powell's press conference for signals on the path ahead.
September's policy meeting follows the Senate's confirmation of Stephen Miran, Trump's nominee to join the central bank, adding another layer of political interest to this week's proceedings.
Rostro's Joshua Mahony said: "In Washington, political manoeuvring around the Federal Reserve has intensified ahead of Wednesday’s pivotal decision. The Senate confirmed Trump adviser James Miran as Fed governor, ensuring the former president has a voice inside the central bank as it weighs easing. Who would be surprised to see Miran vote for an oversized 50bp cut to justify his appointment? At the same time, an appeals court has cleared Lisa Cook to remain on the Board, marking yet another failed attempt from Trump to reshape the FOMC towards his political agenda.
"With markets overwhelmingly positioned for a cut, the dollar has fallen to a two-month low, reflecting an optimism that we are set to embark upon a new phase of dramatic monetary easing, thanks in no small part to recent jobs market weakness."
On the macro front, August's import/export price index will be published at 1330 BST, as will last month's retail sales numbers, while August capacity utilisation and industrial production figures will follow at 1415 BST, and July business inventories and September's NAHB housing market index were slated for release at 1500 BST.
No major corporate earnings were slated for release on Tuesday.
Reporting by Iain Gilbert at Sharecast.com
