Wall Street considers trade data ahead of Fed minutes
U.S. stock index futures signaled a higher open on Tuesday after losses in the previous session, with the U.S. international trade gap narrowing in November and raising fourth-quarter estimates for economic growth.
The trade gap lessened to $34.3 billion in November, versus expectations of $39.5 billion.
The smallest deficit since June should raise fourth-quarter GDP estimates, and puts "our estimate to now above 2.5 percent," emailed Peter Boockvar, chief market analyst at the Lindsey Group.
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In prepared remarks, Boston Federal Reserve Bank President Eric Rosengren said "long-term labor market scars" led him to believe that the Fed should stay highly accommodative and wind down its stimulus very gradually.
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Shares of JPMorgan could attract more interest however, as the bank may settle the criminal and regulatory investigation into its dealings with Bernard Madoff on Tuesday. A deal of around $2 billion is expected.
Treasury Secretary Jack Lew starts a series of visits to Europe this week. He is expected to visit France on Tuesday where he will meet President François Hollande and Finance Minister Pierre Moscovici, to discuss economic developments in Europe and policies to boost global growth and promote financial stability.
(View more: What to expect from Lew's tour of Europe)
Lew's visit comes as workers at a Goodyear tire and rubber factory in northern France are holding two managers captive in a dispute over the plant's closure.
—By CNBC's Katy Barnato