U.S. stock futures were edging up early on Tuesday. Market attention is firmly fixed on inflation data which could help decide whether the Federal Reserve will resume rate cuts, overshadowing trade developments.

U.S. stock futures edge higher as Disney, Uber, Shopify and AMD report earnings. Here's what’s moving the market today.

The Consumer Price Index rose 0.2% in July, accounting for a 2.7% rise year-over-year. Meanwhile, Core CPI, which excludes food and energy prices, was up 0.3% for the month. Stock futures traded higher after the CPI data came out.