US pre-open: Futures point to small gains as trade talks remain in focus
US futures had stocks opening slightly higher on Tuesday as investors continued to focus on US-Sino trade news.
As of 1230 BST, Dow futures were up 0.09%, while S&P 500 and Nasdaq-100 futures were 0.04% and 0.14% stronger, respectively.
The Dow Jones closed 57.44 points higher on Monday thanks to positive headlines around the US-China trade talks emanating from Beijing and Washington and increasing optimism that the UK would be able to avoid crashing out of the European Union.
China's vice-premier Liu He said that Beijing and Washington had made "substantial progress" in trade talks over the weekend and less than 24 hours later, Donald Trump sounded an optimistic note regarding the chances of the pair striking a trade agreement by the middle of November.
During a Cabinet meeting at the White House on Monday, Trump also said that China had started making the purchases of US agricultural products that he had pushed for as part of a deal.
However, IG analyst Chris Beauchamp said: "The ongoing détente between the US and China has helped equities to power higher over the past two weeks, fitting the usual seasonal pattern, but actual progress is still lacking, leaving stocks vulnerable to some weakness.
"If they can navigate the next few days then the seasonal outlook becomes even stronger, and perhaps some post-earnings disappointment or a sulk in the wake of the FOMC meeting this month might also provide a fresh buying opportunity for investors."
Elsewhere, market participants remained focused on Brexit as UK Prime Minister Boris Johnson's deal faced its first parliamentary hurdle.
On the data front, existing homes sales for September will be published at 1500 BST, as will the Richmond Federal Reserve's manufacturing index for October.
In corporate news, Snap, Lockheed Martin, Hasbro, McDonald's, Chipotle and UPS were all set to report their latest quarterly earnings throughout the course of the day.