Around 5:30 a.m. ET, Dow futures indicated a drop of less than 20 points at the open. Futures on the S&P and Nasdaq were both nearly flat.
Wall Street rose sharply on Monday as a rebound in bond yields continued, easing ongoing recession fears. The White House has also stepped in the ongoing debate over whether the U.S. economy will soon enter into recession mode, with President Trump saying that: “We’re doing tremendously well. Our consumers are rich. I gave a tremendous tax cut and they’re loaded up with money.”
Nonetheless, traders remain focused on U.S.-China trade relations, after the U.S. Commerce Secretary Wilbur Ross announced Monday that it was extending by another 90 days a temporary reprieve for Huawei to do business with American firms. The U.S. added another 46 Huawei affiliates onto the blacklist.
On the data front, the Philly Fed non-manufacturing numbers will be out at 08:30 a.m. ET.
In terms of corporate earnings, Home Depot, Medtronic and Toll Brothers will be updating investors.