Futures for U.S. markets were positive late Monday as investors bet on solid retail sales figures that will be released Tuesday and work to price in the results economic growth could have on interest rates.
The S&P 500 was up 0.12%, the Dow Jones Industrials 0.1% and Nasdaq 0.09% at 9:03 p.m. ET.
Investors expect strong numbers from the retail sales report, but Wall Street's mixed close Monday shows investors are concerned about interest rate-sensitive shares, which would be affected by a faster-than-expected increase in rates.
Four Federal Reserve officials are speaking Tuesday, providing one of the first post-election peeks into their thinking ahead of an expected December rate increase. They are: Boston President Eric Rosengren will speak at 8 a.m. at the Portland Regional Chamber of Commerce in Maine; Governor Daniel Tarullo will be at a Wall Street Journal event at 9:05 a.m. in Washington D.C.; Vice Chairman Stanley Fischer will be at the Bookings Institute at 1:30 p.m., also in D.C.; and Dallas President Rob Kaplan will address the Economic Club of New York at 1:30 p.m. All times are Eastern.
The S&P closed mostly flat with just a 0.01% decline, while the Dow gained 0.11%. Nasdaq lost 0.36% after Europe closed higher across the board with Germany's Dax up 0.24%, France's Cac, 0.34%, and the FTSE in London, 0.43%.
In the first markets to open Tuesday, Asia was mixed with Japan's Nikkei off 0.15% and Australia's ASX off 0.63% at 9:34 p.m. ET as traders fretted over the strength of the dollar following Donald Trump's election a week ago as U.S. president. Meanwhile, the Hang Seng in Hong Kong gained 0.42% as investors there await economic data and the Kospi in South Korea gained 0.08%, helped by positive acquisition news in shipping as well as at beleaguered Samsung.
In energy, oil got a strong bump when Asia awoke with industry standard Brent crude up 1.22% to $44.97 while West Texas crude added 1.39% to $43.92 at 9:24 p.m. ET. The prices are per barrel and represent futures for delivery in January and December, respectively.
The dollar weakened in early Asian trade with the yen off 0.24% against the dollar to ¥108.12 -- still a far cry from the ¥103 pre-Trump range.
In after-hours trade, airlines were the big winners after billionaire Warren Buffett's Berkshire Hathaway (BRK.A) ascended back into airline shares, an industry he'd criticized as too cash-hungry. The Oracle of Omaha Monday disclosed positions in the three biggest U.S. carriers: American Airlines (AAL) , United Continental (UAL) and Delta (DAL) , according to regulatory filings.
The news pushed American up 3.44% to $44.90 in extended trading, while United added 2.64% to $64.60 and Delta rose 2.89% to $48.84.