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Constellation Brands ( STZ ) jumps after Berkshire discloses stake

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Intel ( INTC ) up after report Broadcom ( AVGO ), TSMC eye deals to split it

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Bath & Body Works ( BBWI ) gains after JPM upgrades to 'overweight'

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Futures up: Dow 0.17%, S&P 500 0.36%, Nasdaq 0.41%

(Updates prices before markets open)

By Shashwat Chauhan and Sukriti Gupta

Feb 18 (Reuters) -

Wall Street's main indexes were on track to open higher on

Tuesday as investors focused on potential tariff developments

and the U.S. Federal Reserve's interest-rate strategy following

last week's drop in Treasury yields.

Minutes from the central bank's January meeting, where it

held interest rates unchanged between 4.25% and 4.5%, are due on

Wednesday.

Fed Governor Christopher Waller said on Monday, when the

U.S. markets were closed for Presidents' Day, that his

"baseline" view was that U.S. President Donald Trump's new trade

restrictions would have only a modest impact on prices.

Philadelphia Fed President Patrick Harker said he saw no

reason for an imminent change in interest-rate policy.

Hawkish commentary from Fed Chair Jerome Powell during his

semi-annual testimony to Congress, along with last week's

consumer prices and producer prices data, led to uncertainty

over the Fed's rate-cut plans this year.

Traders currently see at least one 25-basis-point rate cut

and a 56% chance of an additional cut by December, according to

LSEG data.

Friday's weaker-than-expected retail sales reading pulled

Treasury yields lower, likely keeping the central bank on track

to cut borrowing costs this year.

"I don't think the Fed wants a policy mistake by cutting

rates too early, because if they do, the unintended consequence

would certainly be that inflation would turn around," said

Philip Blancato, CEO of Ladenburg Thalmann Asset Management.

"I don't think the Fed's going to cut any time soon...

unless the data continues to get better."

Wall Street's main stock indexes clocked weekly gains in the

midst of a choppy period for global markets last week as Trump's

imposition of tariffs on steel and aluminum imports, along with

his plans for reciprocal tariffs, sparked volatility.

Meanwhile, global risk-taking was boosted by speculations of

a peace deal between Russia and Ukraine as Russian and U.S.

officials met for bilateral talks in Saudi Arabia on Tuesday.

At 08:18 a.m. ET, Dow E-minis were up 78 points, or

0.17%, S&P 500 E-minis were up 22 points, or 0.36%, and

Nasdaq 100 E-minis were up 91.75 points, or 0.41%.

Earnings season will start to thin out this week, with more

than 380 of the S&P 500 companies having reported quarterly

results.

Retail giant Walmart's ( WMT ) earnings, a bellwether to

gauge how the American consumer is faring, are due later this

week.

Most megacap and growth stocks ticked up in premarket

trading, with Nvidia outpacing the rest with a 1.7%

advance.

Intel ( INTC ) rose 5.1% after a report over the weekend

said rivals Taiwan Semiconductor Manufacturing Co ( TSM ) and

Broadcom ( AVGO ) was each eyeing potential deals that could

break the chipmaking icon in two.

Constellation Brands ( STZ ) jumped 6.6% after Warren

Buffett's Berkshire Hathaway ( BRK/A ) disclosed a new investment

in the alcoholic beverages producer on Friday.

Bath & Body Works ( BBWI ) advanced 4.6% after J.P.Morgan

upgraded its rating on the beauty and skincare company to

"overweight".