The U.S. stock market traded mixed on Tuesday morning, with major indices showing tight movements as investors awaited the release of the Federal Reserve's November meeting minutes.

Reports are expected to provide fresh critical insights into the central bank's outlook for interest rates. Fed futures currently assign a 59% probability of a 25-basis-point rate cut in December. The remaining odds suggest the Fed may hold rates steady in the 4.5%-4.75% range, as per CME FedWatch.

Fed futures are currently assigning a 59% chance to a 25-basis-point Fed rate cut in December, while remaining odds point to the option...