Investing.com - Wall Street futures were lower on Tuesday, amid fresh uncertainty over the timing of future rate hikes by the Federal Reserve and as oil prices turned sharply lower.
The blue-chip Dow futures were down 0.52%, the S&P 500 futures declined 0.58%, while the tech-heavy Nasdaq 100 futures retreated 0.55%.
Markets were jittery after Fed Governor Lael Brainard warned against raising interest rates too quickly.
In a speech on Monday, Brainard says economic progress continues in the U.S., but the Fed would be wise to continue keeping policy loose.
The comments contrasted with Boston Fed President Eric Rosengren’s comments from last Friday saying that low interest rates are increasing the chance of overheating the U.S. economy.
Meanwhile, oil prices moved lower after the Organization of the Petroleum Exporting Countries said on Monday that crude output from rival producers is stronger than expected and will result in a bigger supply glut than previously believed this year and next.
Energy-related stocks were expected to be hit by the decline in crude prices and shares in Exxon (NYSE:XOM) Monbil were already down 0.45% in pre-market trade.
Tesla Motors Inc (NASDAQ:TSLA). was also slated to be in focus after the electric-car maker announced over the weekend an upgrade for its Autopilot feature that could largely improve the safety of its semiautonomous driving system. Shares slipped 0.15% pre-market after rallying nearly 2% on Monday.
In the tech sector, HP Inc (NYSE:HPQ) could remain in the spotlight after surging nearly 4% on Monday following its decision to buy Samsung Electronics (KS:005930)' printer business for $1.05 billion.
Elsewhere, Potash Corporation of Saskatchewan (NYSE:POT) shares rallied 0.95% in after-hour trading on Monday after it and rival Agrium Inc (NYSE:AGU) announced a merger to create the largest crop nutrient company in the world. Agrium shares were up 0.39% pre-market.
Companies scheduled to publish earnings reports on Tuesday included GMS and Radiant Logistics.
No major U.S. data was to be released throughout the day.