US stock futures hovered around the flatline as Wall Street awaited another pulse check on inflation after Tuesday's tepid figures sent rate-cut bets and markets soaring.

Global equities look nervous heading into Tuesday’s US CPI release, given the potential the data could disrupt expectations for Fed interest-rate cuts that have helped to prop up risk appetite in the US and beyond. Asian stocks may face a more perilous risk-reward set up given this local investor hesitance.