Stock futures traded little changed early Tuesday, as investors prepare for a fresh inflation report. Futures tied to the Dow Jones Industrial Average slipped 17 points, or less than 0.1%. Nasdaq 100 and S&P 500 futures also traded less than 0.1% lower. Investors are focused on the July consumer price index report, hoping to gather potential insight into how the Federal Reserve will handle short-term interest rates, especially as the S&P 500 hovers near an all-time high. Economists polled by Dow Jones expect the index to advance 0.2% month-over-month in July, and 2.8% on an annualized basis. So-called core CPI, which strips out food and energy from the reading, is expected to climb 0.3% month-over-month and 3% year over year. The report comes as traders weigh the latest developments on the tariff front. President Donald Trump said Monday he’d extend a 90-day pause on higher levies on Chinese goods. “Investors seem to be betting on upcoming interest rate cuts and counting on them to counteract the drag from tariffs. We think it is too early to make that assumption,” said Brent Schutte, chief investment officer at Northwestern Mutual Wealth Management. “The degree of tariff impacts and how long they will take to work through the economy remain open questions. In the meantime, high equity valuations may heighten the impact any negative developments have on stock returns.” Wall Street will also parse Thursday’s producer price index report for a reading on wholesale inflation. Both reports come ahead of the Fed’s Jackson Hole gathering at the end of August, ahead of the central bank’s September policy meeting. The market is currently pricing in a nearly 87% chance of a rate cut next month, per trading data from the CME’s FedWatch Tool. U.S. Treasury yields inched higher early Tuesday as investors look toward key inflation data for July and assess the extension of U.S.-China trade truce. The 10-year Treasury yield rose 1 basis point to 4.285%, and the 2-year Treasury yield was 2 basis points higher at 3.772%. The 30-year Treasury bond yield was more than 1 basis point higher at 4.856%. Asia-Pacific markets mostly rose Tuesday, with Japan’s Nikkei 225 hitting a record high as investors assessed the U.S.-China trade truce extension overnight that has allowed the world’s largest economies more room to negotiate a deal. Investors will be keeping a close watch on the Reserve Bank of Australia rate verdict. The RBA is widely expected to slash cash rates later in the day. Australia’s S&P/ASX 200 hits a fresh record high ahead of the central bank’s decision. Oil prices were broadly steady on Tuesday as the United States and China extended a pause on higher tariffs, easing concerns an escalation of their trade war would hit oil consumption. Brent crude futures lost 2 cents to $66.61 a barrel, while U.S. West Texas Intermediate crude futures eased 10 cents, or 0.2%, to $63.86. U.S. President Donald Trump extended a tariff truce with China to November 10, staving off triple-digit duties on Chinese goods as U.S. retailers prepared for the critical end-of-year holiday season. Gold prices edged higher on Tuesday, after a sharp selloff in the previous session, as investors focused on U.S. inflation data that could shape the Federal Reserve’s rate-cut timeline. Spot gold was up 0.2% at $3,349.13 per ounce. U.S. gold futures for December delivery were steady at $3,398.90. Bullion slid 1.6% to a more than one-week low on Monday, while futures dropped more than 2%, after U.S. President Donald Trump ruled out tariffs on imported bullion. Comex front-month gold futures are now in line with London spot after a near $40/ounce premium on Friday, said Nitesh Shah, commodities strategist at WisdomTree.