Dow, S&P 500, Nasdaq futures hit pause in countdown to consumer inflation data

US stock futures were halted on Tuesday as investors moved cautiously on the eve of a closely watched consumer price inflation report that is seen as key to the path of interest rates.

Dow Jones Industrial Average ( ) and S&P 500 ( ) futures are hovering around the flat line. Futures on the tech-heavy Nasdaq 100 ( ) rose 0.1%, after metrics started the week with small losses.

While stocks are stumbling, they are still holding levels not far from record highs as investors await Wednesday’s consumer price update. There are hopes that the November inflation reading will provide further evidence of the economy’s “soft landing”, which justifies its widespread spread. Bets on interest rate cuts by the Federal Reserve In December.

Meanwhile, Oracle (ORCL) shares fell more than 8% — poised to wipe out about $45 billion in market value — after its quarterly revenue fell in the face of intense cloud competition.

Investors also focused on chipmaker Taiwan Semiconductor Manufacturing (TSM, 2330.TW) reporting a 34% year-over-year jump in revenue in November. While the sales figure indicates continued demand for AI, it also represents a decline from the previous month’s reading. Shares of suppliers Apple (AAPL) and Nvidia (NVDA) fell in pre-market trading.