US Stocks Set For Positive Start Before Key Trump Speech

(RTTNews) - Trading in U.S. stock futures point to a slightly higher open on Wall Street Tuesday as investors await a speech by President Donald Trump at the Economic Club of New York later in the day for clues on the status of the Sino-U.S. trade talks.

Investors are hoping for positive commentary about a possible interim trade deal with China.

Trump said on Saturday that talks with China were moving along "very nicely" but the United States would only make a deal if it was the right one for Washington.

He also described as "incorrect" reports about how much the U.S. was ready to roll back tariffs on China.

Market players also keep an eye on Federal Reserve Chairman Jerome Powell's testimony before the Congressional Joint Economic Committee on Wednesday for possible clues on the central bank's next move on interest rates.

At around 07:15 a.m. ET, futures for the Dow Jones Industrial Average rose 13 points, while the Standard & Poor's 500 index futures rose 1.25 points. Futures for the Nasdaq 100 index gained 7 points.

The latest batch of earnings news may attract some attention today amid another quiet day on the U.S. economic front. There are a few Fed speeches scheduled for today.

CBS Corp. (CBS), D.R. Horton (DHI), Dean Foods (DF), and Tyson Foods (TSN) are among the companies due to report their quarterly results before the opening bell.

Elsewhere, Asian markets ended broadly higher and European stocks are gaining ground despite lingering uncertainty about the U.S.-China trade deal and an escalation of violence in Hong Kong.

Hong Kong police fired tear gas in the heart of the Central financial district and at two university campuses to break up pro-democracy protests as transport was disrupted by protesters for the second day running.

The dollar rose against the yen and Swiss franc while the pound retreated from Monday's highs sparked by Nigel Farage's dramatic general election intervention.

Nigel Farage said on Monday his Brexit party will not contest seats currently held by the Conservative Party of Boris Johnson.

Gold edged down marginally while oil prices rose despite concerns about oversupply.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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