Fed Rate Hike Expectations Weigh on Markets Amid Inflation Data

U.S. equity futures remained relatively stable on Tuesday evening ahead of the Federal Reserve's interest rate decision, which is expected to be a quarter-point hike.

Futures tied to the Dow Jones Industrial Average rose by 56 points or 0.1%, while S&P 500 and Nasdaq-100 futures also increased by 0.1%.

In Asia, trading activity presented a mixed picture: Japan's Nikkei 225 declined by 0.17%, but Australia's S&P/ASX 200 rose by 0.24%.

The Federal Reserve is expected to raise interest rates, with the CME FedWatch tool pricing in a 92% chance of a quarter-point hike during Wednesday's meeting.