Stock futures were down slightly Tuesday as traders took a breather following another winning session and looked ahead to the release of the Federal Reserve meeting minutes. Futures tied to the Dow Jones Industrial Average were down 62 points, or 0.2%. S&P 500 futures and Nasdaq 100 futures dipped 0.2% and 0.3%, respectively. The minutes from the Fed’s Oct. 31-Nov.1 meeting are slated for release at 2 p.m. ET. Traders are hoping to glean some insight into policymakers’ rate decision and learn what it might take for them to change tack going forward. Fed funds futures pricing data suggests a nearly 100% probability that the Federal Open Market Committee will hold steady on rates at its upcoming December meeting. Traders will also turn to earnings from Nvidia and HP. Nvidia shares hit an all-time high on Monday. Wall Street is coming off a strong session, with the S&P 500 and Nasdaq posting their fifth straight day of gains. Tech shares outperformed, leading the major averages higher. U.S. Treasury yields were little changed Tuesday as investors looked to the release of minutes from the Federal Reserve’s latest meeting and assessed the state of the economy. At 7:02 a.m. ET, the yield on the 10-year Treasury was less than 1 basis point lower at 4.42%. The 2-year Treasury yield was last at 4.913%. Asia-Pacific markets were mostly up on Tuesday, led by gains in Chinese property stocks. Chinese property shares surged after Bloomberg reported, citing people familiar with the matter, that Chinese regulators are drafting a list of 50 developers eligible for a range of financing, including China Vanke and Longfor Group Holdings. Asian chip names also climbed as Microsoft shares gained 2%, reaching a new 52-week high, after CEO Satya Nadella said former OpenAI chief Sam Altman will join the tech giant to lead a new AI research team. Taiwan’s main stock index, housing some of Asia’s biggest chipmakers and suppliers, closed up 1.20% at 17,416.70. Hong Kong’s Hang Seng index closed down 0.3% at 17,724.78, paring most of its gains from earlier in the session, while the Hang Seng Tech index erased all its gains to drop 0.87%. Mainland Chinese markets rose 0.13%, closing at 3,581.07. In Australia, the S&P/ASX 200 extended gains from Monday, climbing 0.28% and closing at 7,078.2. Japan’s Nikkei 225 closed 0.10% lower at 33,354.14, down for the second straight day. The Topix slid 0.20% to 2,367.79. South Korea’s Kospi rose 0.77% to end at 2,510.42, while the small-cap Kosdaq gained 0.48% at 817.01. Oil futures eased on Tuesday, reversing the previous day’s rally, as concerns over weaker demand amid a slowing global economy outweighed the prospect of deepening supply cuts by OPEC and its allies such as Russia. Brent crude futures fell 19 cents, or 0.2%, to $82.13 a barrel by 0013 GMT while U.S. West Texas Intermediate crude was at $77.68 a barrel, down 15 cents, or 0.2%. Gold prices rose on Tuesday, supported by a weaker U.S. dollar and Treasury yields as investors look forward to minutes from the Federal Reserve’s latest meeting for more guidance on its interest rate outlook. Spot gold was up 0.6% at $1,988.29 per ounce, as of 0133 GMT. U.S. gold futures gained 0.5% to $1,990.10.
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