- As investors are ready for the release of the US inflation data later on Tuesday, which would be essential in determining the Federal reserve's stance on the timing of future interest rate increases, Wall Street equity futures nudged higher and European markets advanced.
- S&P 500 contracts increased by 0.2%, and the tech-heavy Nasdaq 100 contracts increased by 0.3%. After the data analysis business, Palantir Technologies stated that it anticipates 2023 to be its first profitable year, and the stock rose in premarket trading.
- The Stoxx 600 index rose as a result of increases in European telecommunications and travel and leisure shares.
- According to estimates US inflation likely increased in January to 0.5% from 0.1% while reducing year-over-year to 6.2% from 6.5%. Tuesday's print will reveal whether investor confidence over a slowdown in the course of Fed rate hikes has been warranted after a surge of roughly 8% in the S&P 500 this year, with a hotter-than-expected reading likely to weigh on markets.
