The moves in premarket trade come after a strong Wall Street finish on Monday, with the Dow Jones industrial average closing up more than 200 points. U.S. markets received a boost Monday, as fears of an escalating conflict in Syria eased temporarily.
Last weekend, the U.S. military conducted missile strikes against the Syrian government, in response to a suspected chemical attack that took place in the Middle Eastern country. The strike carried out by the U.S. was done in collaboration with Britain and France. Consequently, geopolitics and tensions in the Middle East remain at the forefront of investors’ minds.
On the economic data front, housing starts and a business leaders survey are both scheduled to be published at 8:30 a.m. ET, followed by industrial production at 9:15 a.m. ET.
In central banking news, a slew of speeches by U.S. Federal Reserve members are scheduled. In Spain’s capital of Madrid, San Francisco Fed President John Williams will be at the NABE Bank of Spain International Symposium. Meantime in the States, Philadelphia Fed President Patrick Harker will be speaking at Saint Joseph’s University in Philadelphia, while Chicago Fed President Charles Evans will be at the Chicago Rotary Club Luncheon.
Last but not least, Fed Governor Randal Quarles is set to appear before the House Financial Services Committee for the semiannual testimony of the Fed’s plans for supervision and regulation of the financial system.
Elsewhere, President Donald Trump will be hosting a two-day official working visit for Japanese Prime Minister Shinzo Abe in Florida, where the two leaders are expected to talk about peace and stability in the Indo-Pacific region, trade and investment ties.