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- Before the bell: Stocks headed for higher open
Before the bell: Stocks headed for higher open
Stocks were headed for positive open Tuesday after China reported a large trade surplus and investors awaited reports on wholesale inventories.
Early Tuesday, China announced that China's monthly trade surplus grew for the second month in a row. The world's second largest economy reported a massive $11.43 billion surplus in April, up from its $1.68 billion in the same month last year.
Top officials from the United States and China are currently meeting in Washington D.C., and trade issues are top of mind.
Economy: The Labor Department released April import/export prices that stood at +2.2% and +1.1% respectively.
The Commerce Department will report on wholesale inventories at 14:00 GMT.
Companies: Software giant Microsoft (MSFT, Fortune 500) said it agreed to buy Internet video call company Skype for $8.5 billion, including the assumption of debt. Shares of Microsoft ticked down very slightly in premarket trade.
In other tech news, The Wall Street Journal reported that search giant Google (GOOG, Fortune 500) is supposedly entering the music cloud business.
Dow component Disney (DIS, Fortune 500) will report after the closing bell Tuesday. Analysts polled expect the media giant to post a profit of 56 cents a share.
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