U.S. stock index futures were trading higher early Tuesday as investors took positions ahead the Federal Reserve’s minutes due to be released tomorrow.
Ahead of the opening bell, the S&P 500 Futures index gained 4.00 points to 1824.75 points while the Nasdaq Futures index was up 8.70 points at 3526.50 points.
Minutes of the Federal Reserve's latest policy meeting (December 17-18) is one of the key events this week that investors are likely to keep a close watch on.
The minutes, which will be released Wednesday, are expected to give further cues as to when the Fed would start rolling back its stimulus measures. In December, the central bank had announced plans to scale back its monthly asset purchases by $10 billion to $75 billion.
On the data front, international trade deficit data for November is scheduled for release today at 8:30 a.m.
Other than this, chain store sales data, IBD/TIPP Economic Optimism index and the Redbook Index are also lined up for release early Tuesday.
Across global markets, Asian markets ended mostly lower but European stocks were able to shrug off early hesitation and were trading with slim gains at the time of writing.