Wall Street Might Open Marginally Higher

(RTTNews) - Investors might be reacting to reports on the U.S. trade deficit and service sector activity as well as the latest earnings news on Tuesday. Early signs from the U.S. Futures Index suggest that Wall Street might open slightly up.

In the Asian trading session, the dollar remained weak near a one-week low, while gold was little changed. Oil extended losses on concerns of oversupply.

As of 8.15 am ET, the Dow futures were 43.00 points, the S&P 500 futures were adding 11.00 points and the Nasdaq 100 futures were progressing 65.75. points.

The U.S. major averages closed higher on Monday. The Nasdaq surged 403.45 points or 2.0 percent to 21,053.58, the S&P 500 shot up 91.93 points or 1.5 percent to 6,329.94 and the Dow jumped 585.06 points or 1.3 percent to 44,173.64.

On the economic front, the PMI Composite Final for July will be released at 9.45 am ET. The consensus is 54.6, while it was up 52.9 in the prior month.

The ISM Services Index for July will be issued at 10.00 am ET. The Consensus is 51.5, while it was up 50.8 in the prior month.

Three-year Treasury Note auction will be issued at 1.00 pm ET.

Asian stocks gained on Tuesday. China's Shanghai Composite index climbed 0.96 percent to 3,617.60 while Hong Kong's Hang Seng index gained 0.68 percent to close at 24,902.53.

Japanese markets advanced. The Nikkei average rose 0.64 percent to 40,549.54. The broader Topix index settled 0.70 percent higher at 2,936.54.

Australian markets closed at a record high. The benchmark S&P/ASX 200 index rose 1.23 percent to 8,770.40 points.