Investing.com - U.S. futures rose on Tuesday on hopes that the scale of the recent sell-off could persuade the Federal Reserve to loosen monetary policy.
St. Louis Federal Reserve President James Bullard said Monday that the Fed “needs to tread carefully in order to help sustain the economic expansion” due to global trade risks and weak inflation. He later became the first senior Fed official to say that an interest rate cut could be warranted in the circumstances.
Bullard is one of the Fed’s most dovish officials, but a more authoritative indication of whether the central bank is changing its stance could come at 9:45 AM ET (13:45 GMT), when Chairman Jerome Powell is due to speak at a conference organized by the Chicago Fed. Other Fed members will also speak at the two-day event.
Uber (NYSE:UBER) fell 1.1% in premarket trading, as dozens of analysts that have been gagged by industry practice will be free to speak their mind about the company for the first time since its IPO. The stock has fallen nearly 10% since listing.
On the data calendar, factory orders for April are out at 10:00 AM ET (14:00 GMT).
In commodities, crude oil fell 0.9% to $52.80 a barrel, while gold futures gained 0.3% to $1,331.45 a troy ounce. The U.S. dollar index, which measures the greenback against a basket of six major currencies, was flat at 97.055.
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