US pre-open: Futures trade higher ahead of PPI reading

Wall Street futures were in the green ahead of the bell on Tuesday as market participants prepped for the publication of another key inflation report.

As of 1205 GMT, Dow Jones futures were up 0.26%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.68% and 1.14% higher, respectively.

The Dow closed 211.16 points lower on Monday, reversing gains recorded in the previous session's CPI-fuelled rally.

Tuesday's primary focus will be October's producer price index, a measure of wholesale inflation, which will be published at 1330 GMT. The PPI reading comes hot on the heels of last week's cooler-than-expected consumer price index, which indicated that inflationary pressures had eased in October.

Elsewhere on the macro front, November's NY Empire State manufacturing index will be published at 1330 GMT.

Federal Reserve governor Lisa Cook will deliver a speech at 1400 GMT, while Michael Barr, vice chair for supervision of the Board of Governors, will testify before the Senate committee on banking, housing, and urban affairs at 1500 GMT.

In corporate news, Home Depot said revenues were up almost 6% at $38.9bn as it continued to see customers flow through its doors despite increased costs and macroeconomic concerns, while Walmart will report earnings before the opening bell.

Target, Lowe's, Macy's, Kohl's and Foot Locker will report later in the week.

Reporting by Iain Gilbert at Sharecast.com