US pre-open: Futures trade higher ahead of November CPI reading
Wall Street futures were in the green ahead of the bell on Tuesday as market participants looked ahead to November's all-important inflation report.
As of 1220 GMT, Dow Jones futures were up 0.55%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.49% and 0.47% stronger, respectively.
The Dow closed 528.58 points higher on Monday, reclaiming some of the losses recorded in what was a tough week for the blue-chip index.
Tuesday's main focus will be November's consumer price index and monthly inflation rate figures at 1330 GMT, with investors hoping to see signs that inflation has begun to ease. Economists expect to see a 0.3% increase in the CPI.
Also drawing an amount of investor attention, the Federal Reserve's two-day policy meeting has kicked off and will wrap up on Wednesday after the central bank reaches its next rate-hiking decision. Traders expect to see a 50 basis point increase, down from the last few increases of 75 basis points.
Elsewhere on the macro front, the National Federation of Independent Business' small business optimism index unexpectedly increased to 91.9 in November amid a slight ease in inflation pressures and better business conditions. The reading was up from 91.3 in October and also beat forecasts for a print of 90.4.
In the corporate space, United Airlines announced that it will purchase at least 100 Boeing Dreamliners in an effort to replace its ageing fleet of wide-body aircraft.
Reporting by Iain Gilbert at Sharecast.com