New York, NY – Stock futures in the United States saw a slight decline on Tuesday, hinting at a potential retreat from recent all-time highs, as investors anticipate the beginning of the Federal Reserve meeting to gain insight into the future of interest rates.

Futures for the S&P 500 and Nasdaq 100 both slid approximately 0.3%, following the record highs achieved previously. Meanwhile, Dow Jones Industrial Average futures dropped by 0.4%.

Despite uncertainties surrounding the economy’s status – whether it’s too hot or too cold for comfort – stocks have continued to make progress. Mixed data has led to skepticism regarding the Fed’s projection of three rate cuts in 2024, with many investors now expecting only one cut by the end of the year.

The two-day Fed policy meeting, starting on Tuesday, is anticipated to conclude with borrowing costs remaining at their current high levels. However, investors will be closely monitoring any hints regarding potential rate cuts, with September or November being potential timelines.

Market participants are also eagerly awaiting Wednesday’s release of May consumer price data, which plays a crucial role in influencing the Fed’s decision-making process.

In the market, Apple shares remained under pressure following losses after its recent AI platform debut, while Eli Lilly saw a surge in its stock price after receiving unanimous support from a panel of FDA advisors for its early-stage Alzheimer’s treatment.

Analysts have varying opinions on the impact of Apple’s recent event on its share performance, with JP Morgan expecting a device upgrade cycle for iPhones in the near future, while KeyBanc views the event as lacking the potential to drive significant consumer interest in new devices. As a result, Apple’s stock experienced a slight decrease during premarket trading.