U.S. stock index futures were higher Tuesday morning, as investors focus on what the bond market is signaling about the economy.
At around 6:30 a.m. ET, Dow futures indicated a positive open of more than 160 points. Futures on the S&P and Nasdaq were in the green, as well.
Wall Street closed Monday with small gains. News that the special counsel Robert Mueller did not find evidence that President Donald Trump colluded with Russia in the 2016 presidential race bolstered the markets by removing some uncertainty. Investors were also hopeful that with the Mueller investigation out of the way, Trump will turn his attention to cementing trade deals. Overall, however, concerns regarding the global economy capped market gains.
Investors are still monitoring the bond market, where last Friday the yield curve inverted for the first time in more than a decade. The three-month Treasury bill yield topped its 10-year counterpart on Friday — this is usually perceived as a sign of an impending recession.
On the economic front, Tuesday’s calendar is quite heavy. There will be housing starts and building permits out at 8.30 a.m. ET. Also there will be consumer confidence figures as well as the Richmond Fed surveys at 10 a.m. ET.
On the corporate calendar, Carnival and KB Home are due to update investors with their latest earnings.