Wall Street poised to open higher
Early trading trends from the U.S. stock index futures indicate stocks will extend gains on Tuesday, as investors continue to celebrate the US-Mexico deal that averted 5% tariffs on all Mexican imports. As of 5:51 a.m. ET, futures on the blue-chip Dow were up 114 points, or 0.44% to 26,200.
Futures on the tech-heavy Nasdaq 100 climbed 51.25 points, or 0.68% to 7,566.75 while those on broader S&P 500 were seen gaining 13.63 points, or 0.47% to 2,902.88.
China signals more stimulus
Xinhua is reporting that Chinese authorities are ramping up the issuance of special local government bonds aimed at stimulating economic growth.
The news agency said that a notice issued to financial institutions and local governments on Monday, encouraged them to use special bonds as well as other market-based financing tools to support critical areas such as the construction of the Yangtze River Economic Belt.
Chinese foreign ministry on Tuesday vowed to retaliate firmly if U.S. President Donald Trump escalates trade disputes. On Monday, Trump said further tariffs on Chinese imports will be levied if President Xi Jinping fails to attend the G-20 summit in Osaka later this month.
Big tech heads to Washington
The House Judiciary Committee on Tuesday will hold its first hearing on anti-competitive practices among U.S. tech companies.0
Lawmakers will hear arguments from news publishers who accuse Silicon Valley giants such as Facebook (NASDAQ: FB) and Alphabet (NASDAQ: GOOG) subsidiary Google of threatening the survival of the news industry.
Publishers say the middleman role that Facebook and Google play in the distribution of news, gives them unparalleled control over online-advertising revenues.
Shares of Facebook were trading 1.70% higher in premarket, while those of Alphabet were unchanged.
Tesla shareholders tune in to annual meeting
Tesla’s (NASDAQ: TSLA) annual investor gathering is set to kick off at 5:30 p.m. on Tuesday in Mountain View, California. Shareholders expect the electric-car maker to provide updates on its performance and plans for the next twelve months.
The meeting comes as Tesla tries to solve production challenges that have seen the automaker struggle to meet manufacturing targets for its Model 3 sedan. Tesla shareholders will vote to re-elect two board members and on supermajority voting proposals.
Shares of the company have gained about 15% this month through their Monday closing price, but have declined 35% this year.