Stock index futures inched lower on Tuesday, a day after the S&P 500 extended its winning streak, shrugging off Moody’s downgrade of the U.S.'s last remaining top-tier credit rating.

US stock futures wavered after investor optimism largely persisted for another day despite growing warnings that relief over trade developments could be short-lived.

U.S. stock index futures were marginally lower on Tuesday as investors awaited commentary from Federal Reserve officials through the day to gauge the central bank's policy stance after the latest downgrade of the United States' credit rating.

The S&P 500 is now just 3% from its record high despite continued uncertainty around the impact of tariffs on the economy.

Stock futures declined before the opening bell Monday after the U.S. credit rating was downgraded by Moody's Ratings on Friday. As of 8:30 a.m. EST, S&P 500 futures had shed 65 points, or 1.1%, while Dow Jones Industrial Average futures declined 252 points or 0.

U.S. stock futures pointed to slight losses early on Tuesday after eking out gains the previous day. The market looks to have largely shrugged off the latest downgrade of the U.S.’s credit rating and is looking for a new catalyst.

Strategists warned the move, announced after the market close on Friday, could spark some near-term selling in stocks and Treasurys.

Stock futures fell and Treasury yields soared on Monday as investors responded to news that a major ratings agency had downgraded its assessment of U.S. federal government debt.

U.S. stock futures dipped on Monday after closing higher for the day and the week on Friday. Futures were trading lower in premarket.