Wall Street futures pointed to a higher open on Tuesday, supported by ongoing optimism over potential Federal Reserve interest rate cuts, while investors assessed a fresh batch of corporate earnings.

Wall Street is pointed toward new heights before the opening bell Wednesday after new U.S. inflation data raised hopes that the Federal Reserve will cut its benchmark interest rate next month. Futures for the S&P 500 and Nasdaq each ticked up 0.

S&P 500 futures are up 0.02% . Dow Jones Industrial Average futures are up 0.02%. Nasdaq 100 futures are up 0.2%. On Tuesday, the Dow Jones Industrial Average rose 484 points, or 1.1%, to 44,459, the S&P 500 increased 72 points,