Fed officials discuss rates, Amazon Prime Day arrives - what's moving markets

investing.com:

Investing.com — Comments from Federal Reserve policymakers spark hopes that the central bank's campaign of interest rate hikes may soon be reaching a conclusion, albeit after a potential increase later this month. Elsewhere, Amazon kicks off its Prime Day sales event and Apple launches a store on megapopular Chinese messaging app WeChat.

1. U.S. futures mixed

U.S. stock futures were mixed on Tuesday, but mostly stayed close to the flatline, as investors look ahead to the release of all-important inflation data later this week and digest comments from Federal Reserve officials (see below).

At 05:17 ET (09:17 GMT), the Dow futures contract had dipped by 55 points or 0.16%, S&P 500 futures slipped by 1 point or 0.03%, and Nasdaq 100 futures rose 11 points or 0.07%.

The main indices advanced on Monday, breaking a three-session losing streak, with the broad-based Dow Jones Industrial Average increasing by 0.62% and the benchmark S&P 500 rising 0.24%. The laggard was the tech-heavy Nasdaq Composite, which moved up 0.18%.

Looming large on the economic calendar is the publication of the June consumer price index on Wednesday. The data could provide a glimpse into the path ahead for inflation and, by extension, the Fed's interest rate policy.

2. Fed policymakers hint at end of rate-hiking cycle

The Federal Reserve may need to further raise interest rates to help corral elevated inflation, but the end of the central bank's recent policy tightening campaign may be approaching, according to statements from several Fed officials on Monday.

In one example, San Francisco Fed President Mary Daly noted that «a couple more» borrowing cost increases are still needed this year. But she added «the last part» of these upticks is nearing as