S&P 500 futures inched lower early Tuesday as the market comes off its first losing week in more than a month.

Futures tied to the S&P 500 slid 0.33%, while Nasdaq 100 futures dipped 0.41. Futures tied to the Dow Jones Industrial Average lost 121 points, or 0.32%.

The moves follow a losing week on Wall Street after economic data raised concerns that the Federal Reserve may not begin cutting interest rates as soon, or by as much, as market participants expected this year.

All three of the major indexes snapped five-week winning streaks. The technology-heavy Nasdaq Composite led the way down with a drop of more than 1.3%, while the benchmark S&P 500 slipped about 0.4%. The blue-chip Dow saw the narrowest loss, shedding just around 0.1%.

Wholesale prices rose more than anticipated by economists polled by Dow Jones between December and January, according to producer price index data released Friday. That bolstered concerns over sticky inflation that were raised earlier in the week after the consumer price index came in at 3.1% on an annualized basis, higher than economists forecasted and well above the 2% goal of the Fed.

Source : CNBC