Wall Street was set for a positive open Tuesday as the dollar slipped and a handful of positive earnings reports helped restore some positive momentum for the market.
The US currency dropped against the euroas traders booked profits after a strong gain Monday that thwarted a potential stocks rally.
At the same time, TD Ameritrade and US Steel were among companies reporting earnings that beat analyst expectations.
US Steel posted a loss of $2.11 a share that was considerably less than the $2.87 that analysts expected, sending its shares up 2.3 percent in premarket trading. TD Ameritrade posted a $0.26 profit on record organic growth, sending its shares up 2.7 percent.
Energy giant BP also contributed to the move higher, posting a profit drop of 34 percent that beat analyst estimates, driven by aggressive cost-cutting. Its US-traded shares gained 5.1 percent premarket.
The moves come a day after the market posted its first back-to-back triple-digit drops since June as the markets were impacted by a rising dollar, falling commodity prices, and other factors.