At around 04:50 a.m. ET, Dow futures fell 106 points, indicating a negative open of more than 97 points. Futures on the S&P and Nasdaq were both marginally higher.
Furthermore, investors are also waiting to hear from Federal Reserve Chairman, Jerome Powell, who will address the Joint Economic Committee at 11:00 a.m. ET.
On the data front, there will be CPI numbers at 08:30 a.m. ET and Federal Budget figures released at 02:00 p.m. ET.
In corporate news, Tencent and Cisco Systems are due to report Wednesday.