Concerns over price pressures raised stakes in U.S equity futures on Tuesday ahead of inflation data on Wednesday. S&P 500 index recovered earlier losses while the tech-heavy Nasdaq 100 traded lower.
Investors are concerned whether a potential rise in inflation will force the Fed to tighten policy.
Investors also seek to gauge whether price pressures will spur a growth rebound in the U.S.
Economic stimulus to tame the impacts of COVID-19 has sent global stocks rallying, with the Fed warning that some risky asset classes are in high valuation gear.
The dollar and Treasury yields steadied ahead of the price index data.
Elsewhere, European stocks traded higher on economic re-opening expectations and gains in miners.
MSCI Asia Pacific Index shed 1% while MSCI Emerging Market Index slipped 0.5%.
Commodity prices remained steady, with West Texas Intermediate crude up 1.1% to $65.97 a barrel.
Gold shed 0.2% to trade at $1,833.72 an ounce.
Global stocks are currently mixed as the dollar gains. S&P 500 is down 0.87%, NASDAQ 100 is down 0.058%, Euro STOXX 600 is up 0.25%, EURUSD is down 0.09%
