Source: Sharecast
As of 1230 BST, Dow Jones futures were down 0.08%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.17% and 0.21% lower, respectively.
The Dow closed 275.50 points higher on Monday as major indices wrapped up an impressive month with another winning session.
Trade Nation's David Morrison said: "Monday’s advance was fuelled by progress on trade negotiations, some upbeat corporate earnings and continued signs of economic resilience, reinforcing optimism that economic growth remains decent even in the face of geopolitical uncertainty. Headlines from Meta Platforms [...] and the dialling down of hostilities between Israel and Iran have helped to offset last week's downward revision to US GDP and an above-target inflation print."
Tuesday's primary focus will likely be comments from Federal Reserve chairman Jerome Powell at 1430 BST, with market participants keen to gain some insight into the central banker's thinking in regards to potential future interest rate policy. Powell's speech comes just a day after Donald Trump sent him a handwritten note demanding ultra-low interest rates.
"Jerome – You are, as usual, 'too late.' You have cost the USA A fortune – and continue to do so – you should lower the rate – by a lot!" said Trump. "Hundreds of billions of dollars being lost! No inflation."
On the macro front, S&P Global's June manufacturing PMI will be published at 1445 BST, while May construction spending and JOLTS job openings figures were slated for release at 1500 BST, as was June's ISM manufacturing PMI.
In the corporate space, Facebook parent company Meta Platforms revealed plans for an AI lab focused on "superintelligence" that will include researchers poached from OpenAI.
Reporting by Iain Gilbert at Sharecast.com
