US stock futures wavered amid increasing expectations that the Federal Reserve will cut interest rates at its next meeting, following the latest inflation data.

Fed-funds futures traders were pricing in a 51% likelihood on Tuesday that the central bank will cut rates in three quarter-point increments by December, up from 45% a day ago, according to the CME FedWatch Tool.

Interest rates for credit cards to mortgages have jumped since the Fed began fighting inflation in 2022. Here's where experts think rates are headed.