BlackRock and Microsoft (NASDAQ:MSFT) plan to launch a more than $30 billion fund to invest in artificial intelligence infrastructure to build data centers and energy projects, the companies said on Tuesday.

U.S. stock index futures moved little in evening deals on Tuesday as investors hunkered down before the conclusion of a Federal Reserve meeting that is likely to result in an interest rate cut. 

Oil prices rose by a dollar a barrel on Tuesday as supply disruptions mounted and traders bet that demand will grow if the U.S. Federal Reserve lowers borrowing costs this week, as is widely expected.

The U.S. dollar strengthened against most major currencies on Tuesday following better-than-expected retail sales data that seemed to support a less aggressive stance by the Federal Reserve, which is widely expected to deliver its first interest rate cut in more than four years.

Oil prices edged up in choppy trade on Tuesday as focus turned to the U.S. Federal Reserve's policy meeting that concludes on Wednesday, while fears of weaker demand in China curbed gains.

A shift in sentiment favoring a 50 basis point rate cut by the Federal Open Market Committee (FOMC) this week, rather than the expected 25 basis points (bps), could be bullish for gold in the short term, HSBC analysts said Monday.