Stock futures remained steady on Tuesday evening as traders eagerly awaited the release of minutes from the Federal Reserve's latest policy meeting. The minutes are expected to provide valuable insight into the possibility of an interest rate cut. Futures tied to the Dow Jones Industrial Average showed a modest increase of 20 points, while S&P 500 futures and Nasdaq-100 futures experienced little change. This follows a recent decline in stocks, with both the S&P 500 and Nasdaq Composite ending their longest winning streaks since late 2023. The S&P 500 dipped by 0.2%, while the Nasdaq slid by 0.33%, and the Dow Jones Industrial Average fell by 0.15%.

Following a tumultuous period for the stock market, triggered by a weak U.S. jobs report and an interest rate hike from the Bank of Japan on August 5th, equities have since rebounded. Strong retail sales and a lower-than-expected inflation report have helped alleviate concerns of a potential recession. Amidst this backdrop, investors are anxiously awaiting not only the release of the Fed's meeting minutes but also comments from Federal Reserve Chair Jerome Powell. Powell is scheduled to deliver remarks at the Jackson Hole Economic Symposium on Friday, where he may provide further hints regarding the central bank's upcoming rate decision in September.

Market analysts are particularly interested in Powell's tone during his speech, with expectations leaning towards a dovish stance. Jack Janasiewicz, lead portfolio strategist at Natixis Investment Managers Solutions, believes that inflation is steadily approaching the target of 2%, exceeding consensus projections. Additionally, there are indications of a softening labor market, further supporting the notion that a hawkish stance may not be necessary. The outcome of Powell's remarks will likely shape market sentiment in the coming weeks.

In addition to the Fed-related news, traders will be closely monitoring quarterly earnings reports from major companies such as TJX Companies, Target, and Analog Devices, which are due on Wednesday. These reports could influence market sentiment and potentially drive stock prices in different directions.

As the market holds its breath for the release of the Fed meeting minutes and Powell's upcoming speech, investors will be on high alert for any signals that could shed light on the future direction of interest rates.