Stock futures are pointing to a flat open on Tuesday as the market looks to extend a rally that has pushed major indexes to record levels.

Futures on the S&P 500 ( ES=F) and the tech-heavy Nasdaq 100 ( NQ=F) were down around 0.1%, coming off fresh records for the indexes. Dow Jones Industrial Average futures ( YM=F) traded broadly flat.

"At present, I lean toward supporting a cut to the policy rate at our December meeting," Christopher Waller, a Federal Reserve governor, said Monday.

U.S. stocks finished off their best month in a year on Friday, with the Dow and S&P 500 clinching fresh record closing highs to cap off a blockbuster November. The Russell 2000 finished Friday just shy of what would have been its first record close since November 2021.

Technology stocks pulled Wall Street to another record amid mixed trading. The S&P 500 rose 0.2% Monday after closing November at an all-time high. The Dow Jones Industrial Average fell 0.3%, and the Nasdaq composite gained 1%.

U.S. stock futures were falling early Tuesday following record highs in the previous session. S&P 500 futures were falling less than 0.1% and Nasdaq 100 futures were down 0.1%. The S&P and Nasdaq Composite hit new highs on the first trading day of December but will be tested this week by a series of economic data releases,

Markets were slow to gain traction in either direction early Tuesday, a day after a surging technology sector boosted Wall Street to another record finish. Futures for the Dow Jones Industrial Average and S&P 500 were essentially unchanged before the bell.

Stocks ended higher on Monday, with both the S&P 500 and the Nasdaq reaching fresh all-time highs, as markets continued their post-election rally powered by bets on business-frien