FX.co ★ US Futures Steady Ahead of CPI

US stock futures remained relatively stable on Tuesday as investors anticipated the latest consumer inflation report, which is expected to provide clarity on the Federal Reserve's policy direction. The financial markets are currently predicting two interest rate cuts by the Fed this year, commencing in June. However, an unexpected rise in inflation might limit the central bank's ability to loosen monetary policy. Market focus is also shifting to JPMorgan's Q4 earnings report, marking the start of a series of earnings releases from major banks this week, including Bank of America, Wells Fargo, Citigroup, Morgan Stanley, and Goldman Sachs. In regular trading on Monday, the Dow Jones Industrial Average edged up by 0.17%, the S&P 500 inched higher by 0.16%, and the Nasdaq Composite increased by 0.26%. Of the 11 S&P sectors, nine recorded gains, with consumer staples, industrials, and materials leading the pack. Simultaneously, federal prosecutors have launched a criminal investigation into Fed Chair Jerome Powell, a move he described as a “pretext” by President Trump to exert pressure on the Fed to lower interest rates.