The major market averages were all set to open higher on Tuesday with oil futures and gains in Euro-zone bourses after last night's French presidential debate lifting Dow futures 35 points above fair value.
Brent crude oil futures were being buoyed by expectations that the Organization of the Petroleum Exporting Countries would extend their production cuts beyond June. Gains have been tempered, however, by Wednesday's inventory data, as well as reports that Libya is preparing to restart crude shipments from their major ports.
European markets were mostly higher in celebration of French presidential candidate Emmanuel Macron's performance in last night's debate. Marcon, whom the polls have running neck-and-neck with Marine Le Pen, is partial to keeping France in the European Union, and viewed as a much more moderate candidate than his pro-Frexit opponent, Le Pen. Accordingly, France's CAC-40 is leading Euro-zone markets higher with a 0.50% gain.
On the economic front, the U.S.'s current account deficit, which measures the balance of trade in goods and services, narrowed to $112.4 billion in Q4 from a revised $113.0 billion deficit in Q3. This is compared to estimates for a deficit of $129.0 billion.
On deck for this afternoon is a speech from Kansas City Fed President Esther George at 12:00pm ET, followed later this evening by speeches from Cleveland Fed president Loretta Mester and Boston Fed President Eric Rosengren.
-Dow Jones Industrial up 0.07%
-S&P 500 futures up 0.17%
-Nasdaq 100 futures up 0.20%
Nikkei down 0.34%
Hang Seng up 0.37%
Shanghai Composite up 0.35%
FTSE-100 down 0.21%
DAX-30 up 0.16%
PRE-MARKET SECTOR WATCH
(+) Large cap tech: Higher
(+) Chip stocks: Higher
(+) Software stocks: Higher
(+) Hardware stocks: Higher
(+) Internet stocks: Higher
(+) Oil stocks: Higher
(+) Biotech stocks: Higher
(+) Drug stocks: Higher
(+) Financial stocks: Higher
(+) Retail stocks: Higher
(+) Industrial stocks: Higher
(+) Airlines: Higher
(+) Autos: Higher
(+) HTBX (+13.98%) Reported positive phase 2 results from HS-110 for the treatment of lung cancer
(+) MSI (+3.19%) Upgraded at Jefferies to buy from hold
(+) CMCM (+1.13%) Reported better-than-expected Q4 profit and sales
(-) DB (-4.46%) Could be fined by U.S. authorities over forex activities
(-) GEL (-4.14%) Priced public offering of 4 million common units for gross proceeds of $124 million
(-) GIS (-1.59%) Beats Q3 EPS estimates, misses on revenue, affirms outlook