About 2:30 a.m. ET, Dow futures increased by 2 points, indicating a more than 21 points positive opening. Both S&P and Nasdaq’s futures were slightly higher.
Market focus is largely tailored to developments in global trade, following a preliminary trade agreement between the two largest economies in the world.
President Donald Trump and Chinese officials announced late last week that a so-called “phase one” agreement had been agreed between the U.S. and China.
It is understood that Beijing agreed on billions of dollars in U.S. agricultural purchases, while Trump said, among other things, that he would not step forward with a new round of tariffs planned\
According to the U.S., Robert Lighthizer, a trade representative, the agreement, which is not yet signed, will be confirmed in the first week of January.
The current Empire State Manufacturing Survey will be published at 8:30 a.m. on the data front. ET. Housing begins in November, building permits will be released for November and a December business leader’s survey will be released at the same time.
November’s industrial production figures will be released at 9:15 a.m. ET, set to follow shortly afterwards with the latest Job Openings and Labor Turnover Survey (JOLTS).
In corporate news, earnings will be announced by Jabil, Navistar and Worthington Industries before the opening bell.
After the close of the market, FedEx, Cintas and Steelcase will announce their latest quarterly results.


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