The U.S. trade deficit, service sector activity reports, and job openings data are anticipated to be the focal points on Tuesday. Current indicators in the U.S. Futures Index suggest that Wall Street is poised for a broadly positive opening.
Asian markets concluded mostly in positive territory, while European shares are experiencing broad upward movement.
During the Asian trading session, the dollar drifted downward, approaching a one-week low. Meanwhile, gold prices moved slightly higher, and oil continued its decline from the previous session's losses.
As of 7:50 a.m. ET, Dow futures had risen by 97.00 points, S&P 500 futures had increased by 10.50 points, and Nasdaq 100 futures had dipped by 5.50 points.
The principal U.S. stock indices closed Monday's session on a positive note. The Nasdaq surged by 243.30 points, or 1.2%, reaching 19,864.90, and the S&P 500 advanced 32.91 points, or 0.6%, closing at 5,975.38. In contrast, the Dow experienced a slight decline of 25.57 points, or 0.1%, settling at 42,706.56.
On the economic calendar, the report on International Trade in Goods and Services for December will be released at 8:30 a.m. ET. Analysts expect a deficit of $77.6 billion, compared to a deficit of $73.8 billion in the previous month.
The Institute of Supply Management (ISM) will issue its Services Index for December at 10:00 a.m. ET. The anticipated index figure is 53.2, following a November reading of 52.1.
The Job Openings and Labor Turnover Survey (JOLTS) for November is scheduled for release at 10:00 a.m. ET. The forecast is 7.65 million, up from 7.744 million in the preceding month.
Asian equities wrapped up Tuesday's session with mixed results. China's Shanghai Composite index rose by 0.71% to close at 3,229.64, reversing earlier losses. Meanwhile, Hong Kong's Hang Seng index declined by 1.22%, ending at 19,447.58.
Japanese markets finished positively, with the Nikkei climbing by 1.97% to 40,083.30 and the broader Topix index gaining 1.10% to close at 2,786.57.
In Australia, markets recorded modest gains. The S&P/ASX 200 index edged up by 0.34% to 8,285.10, while the broader All Ordinaries index increased by 0.31% to finish at 8,542.90.
In Europe, shares are predominantly trading higher. Among key indices, France's CAC 40 is advancing by 57.55 points, or 0.77%, Germany's DAX is rising by 104.18 points, or 0.52%, and the U.K.'s FTSE 100 has decreased by 14.81 points, or 0.18%. The Swiss Market Index has gained 99.63 points, or 0.85%.
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