U.S. stock index futures turned lower Tuesday morning.
Market focus is largely attuned to global trade developments, following a preliminary trade agreement between the world’s two largest economies.
It is understood that Beijing agreed to billions of dollars in agricultural purchases from the U.S., while Trump said he would not move ahead with a new round of planned tariffs, among other items.
The deal, which is not yet signed, is set to be confirmed in the first week of January, according to U.S. Trade Representative Robert Lighthizer.
Meanwhile, sterling fell more than 1% on Tuesday morning. It comes after media reports suggested the British government was preparing to make it illegal for the post-Brexit transition period to be extended, leaving little time for a trade deal to be agreed with the EU.
On the data front, the latest Empire State Manufacturing Survey will be released at around 8:30 a.m. ET. Housing starts for November, building permits for November and a business leaders survey for December will all be released at the same time.
Industrial production figures for November will be released at 9:15 a.m. ET, with the latest Job Openings and Labor Turnover Survey (JOLTS) set to follow shortly thereafter.