US equity futures were pointing higher on Tuesday as traders weigh President Donald Trump's latest call for Federal Reserve Chair Jerome Powell to reduce interest rates, and prepare for the latest quarterly results of major companies, including electric-vehicle giant Tesla (TSLA).

The S&P 500 and the Nasdaq rose almost 1% each in premarket activity, while the Dow Jones Industrial Average added 0.8%. The indexes finished the previous trading session lower, with the Nasdaq and the Dow falling for the fourth consecutive day.

Trump said Monday the US economy could slow down unless Powell lowers interest rates immediately and that "there is virtually no inflation" in the country. Last week, Trump said Powell should have lowered rates "long ago" and his termination "cannot come fast enough."

The Fed could increase its policy rate in September if inflation expectations remain elevated amid Trump's feud with Powell, Macquarie said Monday.

Shares of Tesla edged up 0.8% pre-bell with the auto manufacturer scheduled to report its first-quarter results after the markets close. Nvidia (NVDA) gained 1.2% while Apple (AAPL) increased 0.9%.

GE Aerospace (GE), Verizon Communications (VZ), Danaher (DHR), Lockheed Martin (LMT), Elevance Health (ELV), 3M (MMM), Halliburton (HAL) and Genuine Parts (GPC) are among the major companies reporting their latest financial statements before the bell. Intuitive Surgical (ISRG), Steel Dynamics (STLD) and Packaging Corp. of America (PKG) also post earnings after the markets close.

US Treasury yields advanced in premarket action, with the two-year rate rising 6.1 basis points to 3.81%, while the 10-year rate inclined 2.5 basis points to 4.43%.

Tuesday's thin economic calendar has the Richmond Fed manufacturing index for April at 10 am ET. Fed Vice Chair Philip Jefferson's remarks are due at 9 am, followed by Philadelphia Fed President Patrick Harker's speech at 9:30 am. Fed Governor Adriana Kugler is also slated to speak later in the day.

West Texas Intermediate crude oil climbed 1.7% to $64.14 a barrel before the opening bell. Bitcoin rose 1.4% to $88,522, while gold moved 1.2% higher to $3,468 per troy ounce.