Stock index futures were slightly lower Tuesday, a day after Fed chief Jay Powell took some wind out of the rate-cut sails. S&P futures (SPX) -0.1%, Nasdaq 100 futures (US100:IND) were near even and Dow futures (INDU) -0.

Companies this year already have announced more than $1 billion of planned stock buybacks, a pace that likely eclipses the previous yearly record set in 2022. The flurry has been led by cash-rich big