Stock futures inched lower Tuesday as investors await the start of June’s Federal Reserve policy meeting. Dow Jones Industrial Average futures lost 132 points, or 0.3%. S&P 500 futures and Nasdaq 100 futures both lost roughly 0.2%. Those moves follow a muted but notable day on Wall Street. The S&P 500 and Nasdaq Composite rose modestly to notch new record closes, while the Dow inched higher by nearly 0.2%. This comes as traders prepare for the two-day Fed policy meeting commencing Tuesday. The meeting will conclude on Wednesday with an interest rate policy decision and a subsequent press conference featuring Federal Reserve Chair Jerome Powell. While investors are anxiously awaiting the policy announcement, they are largely pricing in that the borrowing rate remains unchanged. Fed funds futures were indicating virtually no chance of a cut at this week’s meeting, according to CME’s FedWatch Tool. Before the Fed decision, investors will analyze small business data due out Tuesday. On Wednesday, they will closely follow the consumer price index reading for May expected in the morning. “We’ve got two big events coming in the middle of this week: the CPI print on Wednesday morning and the Fed meeting on Wednesday afternoon,” said Zachary Hill, head of portfolio management at Horizon Investments. “We’re kind of just biding time a little bit ahead of those.” On the corporate earnings front, traders will monitor results from Oracle and Rubrik slated for after the bell on Tuesday. U.S. Treasury yields fell Tuesday as the Federal Reserve meeting is set to begin, with investors awaiting the central bank’s monetary policy decision and key economic data. The yield on the 10-year Treasury was down 3 basis points at 4.437%. The 2-year Treasury yield was last at 4.845% after falling by four basis points. Asia-Pacific markets were mixed on Monday after a stronger-than-expected U.S. jobs report on Friday revealed hiring and wage growth picked up in May. Japan’s Nikkei 225 climbed 0.92% to close at 39,038.16, while the broad-based Topix gained 1% to 2,782.49 after the GDP announcement. In contrast, the South Korean Kospi closed down 0.79% at 2,701.17 and the small cap Kosdaq slipped 0.17%, snapping a five-day winning streak and ending at 864.71. A few Asian markets are closed for a holiday Monday, including Australia, mainland China, Hong Kong and Taiwan. Oil prices rose on Tuesday, extending the previous day’s rally on hopes of higher seasonal fuel demand and potential U.S. crude purchases for its petroleum reserve, though gains were capped by a firmer dollar. Brent crude futures climbed 28 cents, or 0.3%, to $81.91 per barrel by 0038 GMT and U.S. West Texas Intermediate crude futures rose 31 cents, or 0.4%, to $78.05. Gold prices fell on Tuesday with investors awaiting key U.S. inflation data and the outcome of the Federal Reserve’s policy meeting for details of the central bank’s plans to cut interest rates against its inflation target. Spot gold was down 0.3% at $2,302.89 per ounce, as of 03:17 GMT. U.S. gold futures fell 0.3% to $2,320.20.