Stock futures were little changed Tuesday, as traders took a breather after fears of even higher rates sparked a sell-off during the previous session.
Futures for the Dow Jones Industrials crawled ahead 11 points early Tuesday to 33,997.
Futures for the S&P 500 gained 1.75 points to 4,005.
Futures for the NASDAQ Composite moved up 17.25 points, or 0.2%, to 11,823.
Investors will look ahead to data Tuesday morning on international trade for insight into the strength of the U.S. and global economy. Later in the day, they will watch for post-bell earnings reports from Smith & Wesson and Stitch Fix.
Better-than-expected November ISM Services data, which looks at the purchasing level of manufacturers as a gauge the health of the broader economy, pressured equities Monday. The report stoked fears that the Federal Reserve will need to hike rates for longer than anticipated to bring down inflation. The release aligns with the payrolls report late last week in pointing to resilience within some areas of the economy.
Wall Street is largely expecting a 50-basis-point increase to interest rates at the Fed's December meeting, but remains conflicted over how long the central bank's interest rate hiking campaign will need to last, especially given the latest data.
In Japan, the Nikkei 225 poked ahead 0.2% Tuesday, while in Hong Kong, the Hang Seng Index faded 0.4%.
Oil prices dropped $1.29 to $75.64U.S. a barrel.
Gold prices were lower $10.10 to $1,791.40 U.S. an ounce.