U.S. stock futures pulled back early Tuesday as Wall Street processed hawkish rate talk from Federal Reserve officials and awaited comments from Chair Jerome Powell.Futures tied to the S&P 500 (^GSPC) dropped 0.5%, while futures on the Dow Jones Industrial Average (^DJI) shed 150 points, or 0.4%. Contracts on the technology-heavy Nasdaq Composite (^IXIC) declined by 0.7%.In specific market moves, shares of Coinbase (COIN) fell 2% before the open after the cryptocurrency exchange said it would cut nearly 1,000 jobs as part of a restructuring plan. The company expects to incur roughly $149 million to $163 million in restructuring expenses. The move will mark the third round of layoffs for Coinbase since last year.Shares of billionaire Richard Branson’s Virgin Orbit Holdings (VORB) plunged 22% in pre-market trading after one of the company’s rockets failed to reach its target orbit due to a a technical failure.Bumble (BMBL) shares rose more than 3% in early trading after KeyBanc upgraded the female-founded dating app from Sector Weight to Overweight and said the “competitive environment appears stable, and economic pressures are easing.”Oak Street Health (OSH) shares spiked 37% pre-market after Bloomberg News reported Monday that CVS Health is exploring an acquisition of the operator of primary care centers.Traders work on the floor of the New York Stock Exchange during afternoon trading on January 09, 2023 in New York City. (Photo by Michael M. Santiago/Getty Images)Tuesday’s move come after a mixed start to the week that saw the technology-heavy Nasdaq extend gains from a rally Friday while the other two major averages failed to sustain momentum. The Nasdaq rose 0.6% on Monday, while the S&P 500 and Dow each closed down 0.1% and 0.3%, respectively, following hawkish remarks from two Federal Reserve officials.San Francisco Fed President Mary Daly said during a live-streamed interview with the Wall Street Journal that she expects policymakers will raise interest rates to somewhere above 5%, while adding that the final rate will ultimately depend on the path of inflation.Story continuesEchoing that view, Atlanta Federal Reserve President Raphael Bostic also said the U.S. central bank should raise interest rates above 5% by early in the second quarter and then hold them there for a “long time.”“I am not a pivot guy,” Bostic said in remarks at the Atlanta Rotary Club on Monday. “I think we should pause and hold there, and let the policy work.”Thursday will bring investors December’s Consumer Price Index (CPI) – perhaps the most important economic release of the month and the last significant reading before Federal Reserve officials meet Jan. 31-Feb. 1 to deliver their next interest rate increase.Economists expect headline CPI rose 6.6% over the prior year in December, a downshift from the 7.1% increase seen in November, according to data from Bloomberg. On a month-over-month basis, CPI likely stayed flat.The report is likely to sway bets on whether the Federal Reserve raises interest rates by 0.25% or 0.50% at the start of next month.—Alexandra Semenova is a reporter for Yahoo Finance. Follow her on Twitter @alexandraandnycClick here for the latest trending stock tickers of the Yahoo Finance platformClick here for the latest stock market news and in-depth analysis, including events that move stocksRead the latest financial and business news from Yahoo FinanceDownload the Yahoo Finance app for Apple or AndroidFollow Yahoo Finance on Twitter, Facebook, Instagram, Flipboard, LinkedIn, and YouTube

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