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DuPont ( DD ) gains after raising 2025 profit forecast

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Phillips 66 rises after report Elliott builds stake

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Futures down: Dow 0.21%, S&P 500 0.32%, Nasdaq 0.48%

(Updates with results from DuPont ( DD ), Coca-Cola)

By Shashwat Chauhan and Sukriti Gupta

Feb 11 (Reuters) -

U.S. stock index futures slipped on Tuesday as investors

awaited a testimony from Federal Reserve Chair Jerome Powell for

insight on tariffs and their impact on inflation in the world's

biggest economy.

Most megacap and growth stocks ticked lower, while some

steelmakers extended gains from the previous session, when

President Donald Trump substantially raised tariffs on steel and

aluminum imports.

Inflation data, due on Wednesday, also dominated market

focus ahead of Fed Chair Powell's semiannual monetary policy

testimony before the Senate Banking, Housing and Urban Affairs

Committee on Tuesday.

"The Fed has so far, rightly, avoided commenting on the

possible implications of the trade and immigration policies of

the new administration, but the emergence of new details on

tariff measures since last week offers a platform for Powell to

add more specifics around the thought process," Societe Generale

analysts wrote in a morning note.

Comments from three other Fed heads, including New York's

John Williams, are on the radar throughout the day.

On Wednesday, the January consumer price index (CPI) reading

will be released at 8:30 a.m. ET, with Powell set to testify

before the House Financial Services Committee later on.

Traders expect at least one 25-basis-point interest-rate cut

from the Fed this year, and a 60% chance of another reduction of

the same magnitude, according to LSEG data.

Shares of some steelmakers and aluminum producers rose in

premarket trading, with Cleveland-Cliffs ( CLF ) and U.S. Steel

rising 3.3% and 1.4%, respectively, a day after Trump

raised tariffs on steel and aluminum imports to a flat 25%

"without exceptions or exemptions". The measures are set to take

effect on March 4.

Aluminum Century Aluminum ( CENX ) gained 1.2%.

Trump also said he would follow Monday's action with

announcements over the next two days about reciprocal tariffs on

all countries that impose duties on U.S. goods.

All three main indexes closed higher on Monday, as investors

bought back into AI-linked shares, with Nvidia ( NVDA ) closing

almost 3% higher.

On Tuesday, most megacap and growth stocks edged lower.

Amazon.com ( AMZN ) and Meta Platforms ( META ) were down 0.8%

and 0.4%.

At 07:05 a.m. ET, Dow E-minis were down 95 points,

or 0.21%, S&P 500 E-minis were down 19.25 points, or

0.32%, and Nasdaq 100 E-minis were down 104 points, or

0.48%.

DuPont de Nemours ( DD ) rose 4.3% after the industrial

materials maker raised its 2025 profit forecast on strong demand

for electronics.

Coca-Cola advanced 3.5% after the beverage maker

beat fourth-quarter revenue estimates, helped by higher prices

and resilient demand for its sodas and juices.

With more than half of the S&P 500 companies done

with reporting their quarterly numbers, 76.6% have beaten

earnings expectations of analysts, per data complied by LSEG.

Among other early movers, Phillips 66 gained 4.6%

after Reuters reported that activist Elliott Investment

Management had built a stake of over $2.5 billion in the oil

refiner.