1. Futures edge broadly higher

U.S. stock futures pointed mostly higher on Tuesday, as investors geared up for the release of U.S. retail sales data and awaited a much-anticipated Federal Reserve interest rate decision later in the week.

By 03:13 ET (07:13 GMT), the Dow futures contract was mostly unchanged, while S&P futures ticked up by 6 points, or 0.1%, and Nasdaq 100 futures added 40 points, or 0.2%.

The main averages on Wall Street closed in the green on Monday, fueled in large part by hopes for a Fed rate cut.

Markets are all but certain that the U.S. central bank will slash borrowing costs by at least 25 basis points at the end of its latest policy gathering on Wednesday, while there is also an outside chance of a deeper half-point drawdown from the current target range of 4.25% to 4.5%. The rate-setting Federal Open Market Committee will begin its two-day meeting today.

Stocks were buoyed as well by electric carmaker Tesla (NASDAQ:TSLA), whose shares rallied by 3.6% on a regulatory filing showing that CEO Elon Musk had bought around $1 billion worth of the stock. Google-owner Alphabet (NASDAQ:GOOGL) also notched a fresh all-time peak that brought its market value above $3 trillion.

2. Retail sales ahead

Highlighting the economic calendar will be U.S. retail sales data for August, which is expected to show that growth in the figure slowed.

Economists estimate that, on a month-on-month basis, retail sales rose by 0.2% last month, compared to an uptick of 0.5% in July.

Concerns remain that indications of a softening U.S. labor market in recent months could weigh on spending activity, while a gauge of consumer sentiment from the University of Michigan for September weakened to its lowest point since May as households fretted over the risk of a tariff-driven spike in inflation that could eat into their purchasing power.

Along with "multiple vulnerabilities" in the economy, "consumers perceive risks to their pocketbooks as well," with current and expected personal finances both easing about 8% this month, said Joanne Hsu, the director of the Surveys of Consumers at the University of Michigan, in a statement.

3. Appeals court rejects Trump bid to oust Fed Governor Cook

President Trump cannot fire Fed Governor Lisa Cook, an appeals court ruled on Monday, allowing her to remain on the central bank’s board for the closely-watched policy meeting this week.

The U.S. Court of Appeals for the District of Columbia Circuit in a 2-1 ruling denied the Department of Justice’s request to put on hold an earlier decision blocking Trump from removing Cook.

U.S. District Judge Jia Cobb last week ruled that Trump’s allegations of mortgage fraud against Cook, which the Fed governor denied, did not provide sufficient cause for her firing. Trump is now expected to appeal the case in the Supreme Court.

Separately, Trump’s nomination to the Fed Board of Governors, economist Stephen Miran, was approved by the Senate in a narrow vote on Monday evening. The confirmation allows Miran to participate in the Fed’s meeting this week.

4. Oracle poised for key role in TikTok U.S. deal - CBS News

Oracle (NYSE:ORCL) is among a consortium of firms that could enable TikTok to continue operating in the U.S. if a framework deal between Washington and China is reached, CBS News reported on Monday.

The precise nature of the deal was unclear, but will involve multiple companies, CBS reported, citing sources with knowledge of the negotiations. The involvement of China’s ByteDance, which owns TikTok, was also not immediately known.

The report comes after U.S. officials said they had agreed to commercial terms of the deal with Beijing, following high-level talks in Madrid between the two countries.

Trump hinted earlier this week that a deal was on the way, posting on social media that an agreement was "reached on a ‘certain’ company that young people in our country very much want to save.”

5. Gold new record high

Gold touched a new all-time peak, nearing $3,700 per ounce, bolstered by a weaker U.S. dollar prior to the Fed decision.

By 03:34 ET, spot gold had jumped by 0.3% to $3,690.87 per ounce. U.S. gold futures for December moved up by 0.2% to $3,726.50/oz.

Bullion jumped 1% in the previous session, surpassing record levels notched last week.

Elsewhere, crude prices inched lower, pausing for breath after recent gains as markets assessed the upcoming Fed announcment and Ukrainian attacks on Russian oil facilities.