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 Late Monday, Fed Governor Frederic Mishkin said the Fed must weigh many factors in deciding monetary policy, including the risk to the broader economy posed by a housing slump and financial market volatility, according to a Dow Jones Newswires report.
In economic data Tuesday, the U.S. reports its July trade balance with the rest of the world. Economists expect
Stock futures pointed to a steadier open following a volatile session in which the market bounced between positive and negative territory before ending mixed on Monday.
Dow futures gained 48, or 0.40 percent, to 13,206. Standard & Poor's 500 index futures rose 4.00, or 0.27 percent, to 1,459.30, and Nasdaq 100 index futures rose 7.75, or 0.39 percent, to 1,976.00.
Overseas, Japan's Nikkei stock average added 0.71 percent. Britain's FTSE 100 rose 1.60 percent, Germany's DAX index rose 1.18 percent, and France's CAC-40 rose 1.43 percent.
Bond prices fell. The yield on the 10-year Treasury note, which moves opposite prices, rose to 4.35 percent from 4.27 late Monday. Meanwhile, the dollar weakened against the euro and British pound, while gold futures moved higher.
Crude oil and gasoline futures slipped in premarket activity as traders waited for news from the Vienna meeting of the Organization for Petroleum Exporting Countries. It was expected that OPEC would keep current output targets in place, although Saudi Arabia has been said to be pushing for a production increase.
[Associated Press; by Lauren
Villagran]
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