Before the bell: What you need to know before the US market open
Stock futures in the US are up on the back of a good day in Asia and a strong start across Europe.
The S&P is up by 0.34 per cent, while the Nasdaq is up by 2.5 per cent. The Dow has added 0.35 per cent in the pre-market.
The day's big news so far
Germany's current account surplus has climbed to a record high of €30.4bn (£23.9bn).
The trade surplus of Germany, Europe's largest economy, has ballooned to a record high of €20.6bn in March.
Read more: All you need to know about the UK's current account
German exports to the European Union totaled €62.6bn, while imports from the bloc reached €53.9 billion.
Elsewhere in Europe…
Greece has been offered the debt relief it sorely needs to extend the maturities on Greek debt and cap interest payments, but only if it makes good on its reform promises.
Greece's 10-year yield has hit its lowest in five months as tensions once again flare up in the troubled European country. It's down 53 basis points at 7.54 per cent.
In Asia…
Consumer prices in China came in under expectations, up 2.3 per cent year-over-year in April. Analysts had pencilled in a rise of 2.4 per cent.
Read more: Forget Brexit, the real drivers of corporate decision-making lie to the east
Rodrigo Duterte, who has been compared to Donald Trump for his outspoken demeanour, has been elected the Philippines' new president.
The former mayor of the Filipino city of Davao has a tough outlook on crime, promising to wipe out drug use and government corruption in the country.
“All of you who are into drugs, you sons of bitches, I will really kill you,” Duterte was quoted as saying at rally over the weekend.
The US 10-year yield is higher by 1 bp at 1.76 per cent.
In stocks
Allergan is up by over two per cent in the pre-market after an expectation beating earnings report, while Chesapeake Energy is leading the gainers before the open, up by 5.4 per cent.
Gap is likely set for a rocky session after the retailer warned same-store sales fell by seven per cent in April and warned its sales over the current period were going to be severely down on the year before.
Gap's share price is down nine per cent so far this year and was one of the worst performing stocks in 2015.
Investors will be looking towards Walt Disney, reporting after the close. Shares in the film behemoth are flat so far this year though the company is expected to have done well due to box office hits including the latest Marvel outing Captain America: Civil War, The Jungle Book and Zootopia.
Elon Musk's solar energy company SolarCity is bleeding money, despite strong revenue growth beating expectations. Shares are down almost 19 per cent ahead of the opening bell.
Earnings today
Disney and Allergan stand out today. Allergan has posted earnings ahead of expectations of $3.04 a share and we'll hear from Disney later after the close.
Before the bell: SodaStream, Allergan, Crocs, Dean Foods
After the close: Fossil, Electronic Arts, Walt Disney
Economic data
A litter later this morning we'll get the latest job openings and wholesale inventories at 3pm London time but that's about it for US economic data out today.