The S&P 500 futures are down 14 points and are trading 0.4% below fair value.
The Nasdaq 100 futures are down 85 point and are 0.8% below fair value.
The Dow Jones Industrial Average futures are down 45 points and are trading slightly above fair value.
There’s some hesitation in the market ahead of Wednesday’s CPI report.
President Biden is expected to sign the CHIPS Act today at 10:00 a.m. ET while the Inflation Reduction Act is headed to the House where a vote is expected on Friday.
Treasury yields are also on the rise ahead of the open. The 2-yr note yield is up four basis points to 3.24% while the 10-yr note yield is up four basis points to 2.80%.