US stocks point to a flat open as investors monitor US-China trade developments

U.S. stock index futures were marginally higher Tuesday morning with market players still focused on U.S.-China trade developments.

At around 02:20 a.m. ET, Dow futures rose 7 points, indicating a positive open of just 4 points. Futures on the S&P and Nasdaq both pointed to a narrowly higher open.

Wall Street ended Monday on a negative note, after some disappointing data affected market sentiment. Construction spending fell 0.6 percent in December.

More broadly, market players are focused on U.S.-China trade developments with mixed messages on the progress of talks between Washington and Beijing over the last days. Sources told CNBC Monday that U.S.-China trade negotiations are in the “final stages” and that a summit in Mar-a-Lago later this month could close the deal.

On the economic front, there will be services PMIs at 9.45 a.m. ET; new home sales at 10 a.m. ET and federal budget figures released at 2p.m. ET.

In the corporate calendar, Target and Kohl’s are set to report before the bell.

Furthermore, Richmond Fed President Tom Barkin and Boston Fed President Eric Rosengren are set to deliver individual speeches later on Tuesday.

source: CNBC