U.S. Stock Markets Eye Federal Reserve's Next Move Amid Economic Signals

U.S. stock index futures inched up as investors awaited key economic data for insights on the Federal Reserve's policy direction. A rise in unemployment could complicate the Fed's strategy, especially amid President-elect Trump's uncertain policy plans. Nvidia's gains hint at potential market shifts.

U.S. stock index futures edged higher on Tuesday morning as investors anticipated new economic data, hoping for clues on the policies of the upcoming Trump administration.

Key reports, such as the Job Openings and Labor Turnover survey and the Institute for Supply Management's services activity data, are set to be released later in the day. Any sustained strength in these reports could delay the Federal Reserve's anticipated rate cuts this year.

Financial markets also remain attentive to potential policy shifts under President-elect Trump's administration, including notable campaign promises like tax reforms and tariff adjustments. Meanwhile, Nvidia's stock surged after unveiling new products, while other tech giants, Apple and Tesla, saw downgrades from analysts.

(With inputs from agencies.)