Futures tracking US stock indices rebounded on Tuesday after softer inflation data erased the risk of a Federal Reserve rate hike this month. Contracts for the S&P 500 swung to 0.3% higher and those for the Nasdaq 100 gained nearly 1%, while the Dow erased a 500 point deficit to set up a flat open. The US CPI fell more than expected and the core gauge surprisingly refrained from increasing, easing concerns that higher underlying price growth would force the Fed to start hiking rates by their next meeting. This was magnified by another rally in energy prices after the US and Iran maintained strikes against each other. Chip producers rebounded from yesterday's selloff with Micron and Sandisk adding 5% each premarket. On the other hand, the country's largest banks were lower. JPMorgan fell 2.5% despite posting its strongest profit level ever, and Bank of America dropped 0.8% despite beating earnings. Likewise, Wells Fargo sank 2% even though its earnings report was also seen as a beat.