US futures edge higher as trade turmoil takes a backseat and earnings filter through
U.S. stock index futures posted mild gains ahead of Tuesday’s open, supported by positive trade overseas.
Around 5:45 a.m. ET, Dow futures popped 52 points, indicating a higher open of 60.41 points. The Nasdaq and the S&P 500 futures indicated an upbeat start to their respective trading sessions.
While concerns surrounding a trade spat between the U.S. and other major economies continue to weigh on sentiment, investors will likely be turning their attention to earnings and news coming from overseas.
Earnings season kicks in Tuesday with PepsiCo publishing its corporate results prior to the opening bell. AAR and WD-40 will also publish earnings, after the bell.
In economic data, the NFIB’s Small Business Optimism Index is due out at 6 a.m. ET, followed by the Job Openings and Labor Turnover Survey (JOLTS) at 10 a.m. ET.
Investors will be awaiting any news surrounding trade, after the U.S. and China exchanged tariffs of $34 billion on one another last Friday. As President Donald Trump heads to Europe this week, investors will be watching the interactions the U.S. incumbent has with European leaders. On Wednesday and Thursday, Trump will be in Brussels attending a NATO meeting, before he heads to the U.K. to meet with the British Prime Minister Theresa May later in the week.
Monday night saw Trump reveal his nominee pick for Supreme Court justice. Brett Kavanaugh, a federal appeals court judge, will succeed Justice Anthony M. Kennedy.
Not a Scientific Survey. Results may not total 100% due to rounding.
Overseas, investors will be keeping an eye on Brexit, after news emerged Monday that both U.K. Foreign Secretary Boris Johnson and Brexit Secretary David Davis had resigned from their posts, amplifying pressure on May and her government over future Brexit negotiations.
No speeches by members of the U.S. Federal Reserve are scheduled to take place Tuesday.
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