U.S. stock index futures were higher Tuesday morning, with market participants hopeful a fresh set of trade talks could help to resolve a dispute between the globe’s two largest economies.
At around 4:05 a.m. ET, Dow Jones Industrial Average futures rose 156 points, indicating a positive open of more than 143 points. Futures on the S&P 500 as well as Nasdaq Composite were also seen slightly higher.
Market focus will be largely attuned to global trade developments, with the U.S. as well as China trying to hammer out a deal before an early March deadline.
Both sides expressed hopes the brand-new round of negotiations, which began in Beijing on Monday, could bring them closer to a comprehensive trade agreement.
The trade dispute has already started off to impact global growth, with investors worried a protracted dispute could soon severely hurt corporate earnings.
Meanwhile, market sentiment got a boost amid news U.S. lawmakers had secured a tentative deal on border security funding on Monday.
The drafted agreement — which congressional aides said did not contain funds for President Donald Trump’s border wall — could help to prevent another partial government shutdown due to begin through Saturday.
In corporate news, Nissan, Under Armour as well as Shopify are among the major companies likely to report their latest quarterly results before the opening bell. Occidental Petroleum, Activision Blizzard as well as TripAdvisor are all due to publish earnings after market close.
On the data front, the NFIB little Business Optimism Index for January will be likely to be released at around 6:00 a.m. ET. Job Openings as well as Labor Turnover Survey (JOLTS) figures for December will be published later inside session.