Stock futures rose Tuesday as investors prepared for a trading day to be largely dominated by corporate earnings reports.
S&P 500 futures rose 0.31%, Dow Jones Industrial Average futures increased 0.35%, and Nasdaq futures were up 0.28%.
General Motors (GM - Get Report) posted stronger-than-expected fourth-quarter earnings Tuesday and lifted its global car sales estimates for the next four years. The stock fell 0.3% in premarket trading.
Michael Kors (KORS) fell 10.6% in premarket trading after third-quarter same-store sales fell 6.9% and it guided for fourth-quarter earnings below Wall Street forecasts.
Twenty-First Century Fox (FOXA) shares fell 0.8% in premarket trading after the media company reported a profit of 46 cents a share, beating Wall Street estimates, while revenue of $7.68 billion missed expectations. Revenue in the quarter rose 4.2% on a "record-breaking post-season baseball run" and strong entertainment, series, and news programming, the company said.
Philadelphia Federal Reserve Bank President Patrick Harker said on Monday that he isn't taking an interest rate hike off the table at the next Fed meeting in March.
"I still am supportive of three rate hikes this year, of course with a major caveat, depending on how the economy evolves and policy, fiscal policy, evolves," Harker said following a speech. "I think March should be considered as a potential for another 25-basis point increase."
The U.S. trade deficit in December fell 3.2% to $44.3 billion. In 2016, the deficit increased slightly to $502.3 billion, the largest since 2012.