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Futures down: Dow 0.16%, S&P 500 0.25%, Nasdaq 0.31%

Nov 12 (Reuters) - U.S. stock index futures dipped on

Tuesday after Wall Street's rally over the past few days

following election results as traders awaited key inflation data

later in the week for more signals on the country's economic and

monetary policy outlook.

The three major indexes notched record high closes in the

previous session as investors broadly expect President-elect

Donald Trump's proposed tax cuts and expectations of easier

regulatory policies to help equities.

Some of the stocks expected to perform well under Trump's

presidency gave back gains. EV maker Tesla, which has

soared nearly 40% since Nov. 5, fell 5% in premarket trading.

Futures tracking the small-cap Russell 2000 fell

0.8% after the index closed at a three-year high on Monday.

Trump Media & Technology Group ( DJT ) lost 6.7%.

Some crypto stocks eased after gaining in the past few

sessions, even as bitcoin neared the $90,000 mark.

Coinbase Global ( COIN ) fell 7.2%, and bitcoin miners MARA

Holdings ( MARA ) and Riot Platforms ( RIOT ) dipped 6.5% and

6.8%, respectively.

Focus will now be on Wednesday's release of consumer price

inflation data, the first of several releases this week that

will provide direction to the U.S. Federal Reserve's policy

path.

Markets have already dialed back expectations for interest

rate reductions over the next year, given strong economic data

and the possible inflationary impact of some of Trump's

policies.

Traders are still pricing in a strong chance - nearly 69% -

of a 25 basis point interest rate cut at the Fed's December

meeting, according to CME FedWatch.

"We currently expect the Fed to enact another quarter-point

rate reduction in December, this view is subject to decent

readings on inflation between now and Dec. 18," said John Velis,

Americas macro strategist at BNY.

"December's meeting will be the last meeting before the new

administration assumes office, after which economic policy could

radically alter the inflation and growth landscape, setting up a

new set of calculations for the FOMC."

Fed officials Christopher Waller, Thomas Barkin, Neel

Kashkari and Patrick Harker are expected to speak later in the

day.

Dow E-minis were down 72 points, or 0.16%, S&P 500

E-minis were down 15 points, or 0.25%, and Nasdaq 100

E-minis were down 66.5 points, or 0.31%.

Megacap technology stocks lost ground, with Nvidia ( NVDA )

down 1.2%, Alphabet losing 0.5% and Meta Platforms ( META )

falling 0.4%.

Investors were also eyeing the possibility of a "Red Sweep"

with one data provider projecting the Republican Party had won a

majority in the U.S. House of Representatives, which would

signal that Republicans would hold a majority in both chambers

of Congress.