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Traders work on the floor of the New York Stock Exchange (NYSE) on July 17, 2014 in New York City.
Data-wise, the Job Openings and Labor Turnover Survey (JOLTS) is set to come out at 10.00 a.m. ET on Tuesday. The National Federation of Independent Business’ (NFIB) small business optimism index is also expected to come out at 6.00 a.m. ET.
While no major speeches are expected from Federal Reserve members on Tuesday, investors are likely to be mulling over the comments recently made by a Fed president.
On Monday, St. Louis Fed President James Bullard said in Nashville that the U.S. central bank wouldn’t need to raise interest rates in the near term as inflation isn’t expected to rise very much even if the country’s job market continues to advance, according to Reuters.
On the commodities front, oil prices posted solid gains as investors digested reports of lower crude supplies from Saudi Arabia, which helped offset concerns surrounding a supply glut in the market.
At 5.20 a.m. ET, U.S. crude hovered around $49.65 per barrel, while Brent stood around $52.58.