British News Agency

Futures tied to the Dow Jones Industrial Average lost 65 points, or about 0.1%. S&P 500 futures slipped 0.2%, while Nasdaq 100 futures declined 0.3%.

The consumer price index report due on Tuesday is expected to provide a more comprehensive picture of prices after disruptions caused by the prolonged U.S. government shutdown last autumn.

Economists expect the report to show prices rose 2.7% over the twelve-month period ending in December. Such a result would be consistent with November’s CPI figures, which came in below expectations.

Following the December jobs report—which showed a slight softening but an overall resilient labor market and prompted the U.S. Federal Reserve (Fed) to delay rate cuts—attention has turned to the CPI. According to analysts, fed funds futures are pricing in two quarter-point rate cuts starting in June this year.

Investors are also watching JPMorgan’s fourth-quarter earnings, set to be released Tuesday before the market opens. This will be the first in a series of quarterly reports expected in the coming days from major financial institutions such as Bank of America, Citigroup, and Morgan Stanley.

During Monday’s regular trading session, investors looked past news of a criminal investigation launched by the Justice Department into Fed Chair Jerome Powell, as the S&P 500 and the 30-stock Dow index set new records. The Russell 2000 index also reached an all-time high.

Powell, whose term as chair expires in May, said the investigation was another attempt by U.S. President Donald Trump to pressure the Fed over monetary policy. Trump has repeatedly demanded significant rate cuts. With the Fed having lowered the benchmark rate three times toward the end of 2025 to support its dual mandate, the stock market has largely ignored Trump’s efforts to pressure the central bank.

Trump also called for credit card interest rates to be capped at 10%, a demand that weighed on bank stocks during regular trading. On Monday evening, Trump also said that any country doing business with Iran would face a 25% U.S. tariff.