Wall Street posted modest gains on Tuesday as investors awaited the Federal Reserve’s interest rate announcement and a planned meeting between President Donald Trump and Chinese President Xi Jinping later this week.

Futures for the S&P 500 rose less than 0.1%, Dow Jones futures gained 0.3%, and Nasdaq futures were up 0.1% before the opening bell. Investor attention was also on corporate earnings, with Amazon shares climbing slightly following the announcement of 14,000 corporate job cuts aimed at cost reductions and AI investment. UPS surged 12% after reporting strong third-quarter sales and profits, benefiting from cost-cutting measures.

Traders widely expect the Fed to lower the federal funds rate by 0.25 percentage points to support the slowing job market, though officials have cautioned that rising inflation could alter plans. Key U.S. companies, including Alphabet, Meta, Microsoft, Amazon, and Apple, are set to release earnings reports this week.

In Asia, Japan’s Nikkei 225 fell 0.6% after hitting record highs earlier this month following Prime Minister Sanae Takaichi’s economic stimulus and defense pledges. Other Asian markets, including Hong Kong, Shanghai, South Korea, and Australia, also saw minor declines. European markets showed mixed results, with slight losses in France and Germany and a small gain in the U.K.

Crude oil prices fell early Tuesday, with U.S. benchmark crude down 83 cents to $60.49 per barrel and Brent crude at $64.08.