Source: Sharecast
As of 1230 BST, Dow Jones futures were down 0.14%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.11% and 0.12% softer, respectively.
The Dow closed 349.27 points lower on Monday, taking a bite out of solid gains recorded in the previous session after Federal Reserve chairman Jerome Powell opened the door to a September rate cut at his keynote Jackson Hole address.
Trump's reported effort to remove Federal Reserve governor Lisa Cook, whom he levelled with unproven accusations of mortgage fraud, reignited concerns over the central bank’s independence, with legal experts warning that the move could face a legal challenge in the courts. Under existing statute, Fed governors may only be dismissed "for cause".
The Federal Reserve Board currently comprises six members, following the resignation of Adriana Kugler earlier in August, and if Cook is removed, the board would shrink to five, though non-Trump appointees would retain a majority. However, if Stephen Miran is confirmed to fill Kugler's vacant seat and Cook is successfully ousted, Trump-aligned figures would hold a 4–3 majority. That influence could deepen further if chairman Jerome Powell steps down when his term ends in May, potentially handing the president a fifth vote.
On the macro front, July durable goods orders data will be released at 1330 BST, while S&P Case-Shiller's June housing price index was slated for release at 1400 BST, and August consumer confidence figures and the Richmond Fed's manufacturing index will follow at 1500 BST.
No major corporate earnings were set for release on Tuesday.
Reporting by Iain Gilbert at Sharecast.com