U.S. stock futures rose on Tuesday, with the tech industry eyeing a rebound ahead of key inflation trends that will help set expectations for the timing of the Federal Reserve's move to cut interest rates.
S&P 500 (^GSPC) futures rose 0.2%, while the tech-heavy Nasdaq 100 (^NDX) rose 0.4% after two days of losses. Dow Jones Industrial Average (^DJI) futures were little changed.
Stocks face a significant test with the release of the consumer price index scheduled for 8:30 a.m. ET. This announcement is one of the Fed's most important data inputs in determining its next policy move. The report predicts a 0.4% rise in February, compared with a 0.3% rise in the previous month.
Any surprise could provide a boost to stocks, as Fed policymakers have said they want to make sure inflation is easing before they start cutting interest rates from historically high levels. Traders in the S&P 500 are hedging against a 0.9% move in either direction, a big change that is expected to change around the data.
Meanwhile, Bitcoin (BTC-USD) continued its record rally, rising to $72,240. A surge in inflows into crypto assets has seen the major token rise nearly 70% so far this year, with bulls predicting Bitcoin could reach $350,000 this year.
On the corporate front, shares of database giant Oracle (ORCL) rose 13% in pre-market trading on signs that it is making progress in cloud computing on the back of a partnership with AI chip giant Nvidia (NVDA).
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