At around 03:00 a.m. ET, Dow futures slipped 20 points, indicating a positive open of more than 6 points. Futures on the S&P — which briefly touched an all-time high in the previous session — and the Nasdaq were both marginally lower.
The moves in pre-market trade come ahead of an expected quarter-point rate cut by the U.S. central bank. It would mark the third time this year the Fed has lowered borrowing costs.
Looking ahead, market expectations for another interest rate cut in December are at 23%, according to CME Group’s FedWatch tool, compared with almost 70% earlier this month.
Meanwhile, a report by Reuters published Tuesday cited an unnamed U.S. administration official as saying an interim trade agreement between the U.S. and China might not be completed in time for signing in Chile next month.
Washington and Beijing secured a limited trade deal earlier this month, in an attempt to end a protracted dispute that has battered financial markets and hammered global growth.
Markets had been expecting the world’s two largest economies to secure a trade truce at an Asia-Pacific Economic Cooperation summit in mid-November.
In corporate news, GlaxoSmithKline, CME Group and Yum Brands are among some of the major companies set to report earnings before the opening bell.
Apple, Facebook and Starbucks are scheduled to report their latest quarterly figures after market close.