U.S. stock index futures were higher Tuesday, as market participants monitor trade developments between the world's two largest economies.
temporarily eased some trade restrictions
imposed on China's Huawei last week. The move sought to minimize disruption for the telecom company's customers around the world. The U.S. Commerce Department said it would allow Huawei Technologies to purchase American-made goods in order to maintain existing networks and provide software updates to existing Huawei handsets until August 19.
The temporary easing of trade restrictions won some respite with market participants ahead of Tuesday's opening bell. However, an increasingly fraught atmosphere between Washington and Beijing has continued to keep financial markets on edge, with investors abandoning any hopes of an early resolution to the protracted trade dispute.
On the data front, the Philadelphia Fed non-manufacturing survey for May is set to come out at around 8:30 a.m. ET, followed by existing home sales figures for April at around 10:00 a.m. ET.
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