U.S. stock index futures pointed to a higher open after Alcoa and CSX got earnings season off to a positive start by beating estimates. Intel and Yum Brands will report quarterly earnings after the close today.
On the economic front, the trade gap unexpectedly widened in May, but the report showed exports really picked up. The Treasury budget is due out at 2:00 pm ET. In other news, Moody’s downgraded Portugal’s government debt two notches to A1, but European stocks rallied, suggesting the move was anticipated.
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