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Aug 28, 2018

Before The Bell I US-Mexico trade deal and economic data in focus I CNBC


Alexandra Gibbs


U.S. stock index futures fluctuated ahead of Tuesday's open, as investors kept an eye on news coming out of the political space.
Around 5:30 a.m. ET, Dow futures rose 19 points, indicating a positive open of 43.36 points, with the S&P 500 and Nasdaq futures pointing to a flat to upbeat start to the day.
57541729SP007_Bull_Market_R Spencer Platt | Getty Images
Markets in Asia and Europe tried for gains Tuesday, digesting news that the U.S. and Mexico had secured a new trade deal on Monday, which would look to replace NAFTA, an accord that currently includes both countries and Canada.
According to President Donald Trump, this pact would be named "The United States-Mexico Trade Agreement"; and will last for 16 years, with it being placed under review every six years. Negotiations with Canada has yet to commence, but the U.S. leader added that if Canada chose to negotiate fairly, the U.S. would be open to that.
Consequently, investors will be keeping a close eye on this trade news to see what these developments could mean for the U.S. and its relationships going forward, in particular to China. Trading spats between the States and other major economies have put markets on a roller-coaster ride as of late, even as positive economic data and earnings are released.
More fresh economic figures are due to be published Tuesday. At 8:30 a.m. ET, advance economic indicators will be released, followed by the S&P/Case-Shiller House Price Index at 9 a.m. ET. Meantime at 10 a.m. ET, consumer confidence and the Richmond Fed survey of manufacturing activity are scheduled to come out, followed by the Dallas Fed's Texas Service Sector Outlook survey at 10:30 a.m. ET.

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In earnings, Bank of Nova Scotia, Bank of Montreal, Best Buy, Tiffany, H&R Block, Hewlett Packard Enterprise, BJ's Wholesale, Box and Tilray are all due to publish their latest financial figures.
No speeches by the U.S. Federal Reserve are scheduled to take place Tuesday.
—CNBC's Kayla Tausche and Fred Imbert contributed to this report.