The market sentiment seems to fluctuate as the index futures dipped slightly, indicating a lower opening on Tuesday. The CBOE Volatility, aka VIX, rose slightly but held around the 20 level. Oracle Corp.’s (NYSE:ORCL) earnings and the management’s comments regarding huge data center needs could buoy the tech space, although the Court of Justice of the European Union’s rulings against two big techs, necessitating payment of huge fines could act as a dampener.

That said, traders are likely to adopt a “wait-and-watch” approach as the market prepares to receive the consumer and producer price inflation reports over Wednesday and Thursday. The first presidential debate between former President Donald Trump and Vice President Kamala Harris, due late Tuesday, will also evince the interest of traders, given the candidates will likely discuss policy measures during the debate.

In premarket trading on Tuesday, the SPDR S&P 500 ETF Trust (NYSE:SPY) edged up 0.02% to $546.51 and the Invesco QQQ ETF (NASDAQ:QQQ) slipped 0.04% to $454.30, according to Benzinga Pro data.

Cues From Last Session:

Insights From Analysts:

The upcoming consumer and producer price inflation reports and other high-frequency economic data will be crucial in shaping the Fed’s actions, Siegel said. “While the U.S. economy is not in a recession and I do not forecast one, the slowdown necessitates more aggressive interest rate cuts by the Fed to mitigate risks and support economic stability,” he added.

See Also: How To Trade Futures

Upcoming Economic Data:

• The Energy Information Administration will release its short-term energy outlook report at 12 p.m. EDT.
• The Treasury will auction three-year notes at 1 p.m. EDT.

Stocks In Focus:

Commodities, Bonds And Global Equity Markets:

Crude oil futures declined steeply but gold futures rose modestly and traded shy of the $2,550 level. Bitcoin (CRYPTO: BTC) gained ground and traded just above the $57K level. The 10-year Treasury note yield edged slightly higher at 3.708%.

As Asian stocks took inspiration from Wall Street’s buoyancy overnight, most major markets in the region advanced, although caution remained the watchword ahead of the twin U.S. inflation reports. On the other hand, the Japanese stocks slipped amid a firmer yen, and the South Korean and Taiwanese markets also bucked the uptrend.

Sentiment across the Atlantic was nervous in early trading, with the Euro STOXX 50 Index marginally higher.

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