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Data, Fed speeches in the spotlight on Wall Street; oil eyed

U.S. stock index futures pointed to a relatively flat open on Tuesday, as investors prepared themselves for a slew of data announcements and speeches by members of the U.S. Federal Reserve.

Traders pass in front of an American flag displayed outside of the New York Stock Exchange in New York.
Michael Nagle | Bloomberg | Getty Images
Traders pass in front of an American flag displayed outside of the New York Stock Exchange in New York.

On the data front, the National Federation of Independent Business (NFIB) small business optimism index slipped to 103.6 in June from 104.5 in May. Wholesale trade and the Labor Department's JOLTS (Job Openings and Labor Turnover Survey) report are also due at 10 a.m. ET.

Sticking with financial news, PepsiCo posted better-than-expected quarterly results.

Looking to the central banking space, a number of U.S. Federal Reserve members will be delivering speeches on Tuesday.

Fed Governor Lael Brainard will be speaking at the Normalizing Central Banks' Balance Sheets: What is the New Normal? conference at the Federal Reserve Bank of New York, where she is expected to talk about monetary policy.

Meanwhile, Minneapolis Fed President Neel Kashkari will be at the Minnesota Women's Economic Roundtable event, in Minneapolis.

Meanwhile, when answering questions at an economics event in Sydney; San Francisco Fed President John Williams said he believed a recent softening in U.S. inflation was temporary and that inflation would rise to around 2 percent over the coming year, according to Reuters.

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Investors will be keeping a close eye on Washington on Tuesday, for any more political noise coming out of the White House as the Russia-linked scandal continues to rumble on.

Oil prices were under pressure in morning trade, as overall market conditions remained weak amid oversupply concerns and several banks cutting their price forecasts, according to Reuters.

At 8:07 a.m. ET, U.S. crude was lower at $43.96 a barrel, while Brent hovered around $46.38.

In Europe, bourses were under pressure, while Asia-Pacific markets finished the session mostly higher. In the previous session, U.S. equities finished mostly in the black.

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