1. Economics in focus: There are plenty of economic puzzle pieces to put together on Tuesday.
The U.S. Census Bureau will release its trade balance report for January at 8:30 a.m. ET. The numbers are expected to show the U.S. trade deficit with the rest of the world widened to about $49 billion from $44.3 billion, meaning the country was importing more than it was exporting.
Looking further afield, a new report shows the eurozone economy grew by 1.7% in the fourth quarter. This was in line with expectations and slightly slower than U.S. growth over the same period.
However, German industrial orders in January delivered a nasty shock, slumping 7.4%.
In South America, new figures from Brazil show the country continues to grind through its longest recession ever, spanning eight consecutive quarters.
Brazil's economy shrank 3.6% in 2016. That's just a slight improvement from 2015, when it contracted 3.8%, but still far from good.
2. Earnings: Dick's Sporting Goods ( is set to release earnings before the open Tuesday, while )H&R Block ( and )Urban Outfitters ( are set to release earnings after the close. )
3. Global market overview: Markets have lacked direction since U.S. stocks hit record highs last week.
But most Asian markets ended the day with small gains.
On bond markets, prices for U.S. 10-year Treasuries are sinking, pushing up yields to 2.5%. This comes as the vast majority of investors expect the U.S. Federal Reserve to hike rates next week.
"It is a rare event indeed when Bloomberg's World Interest Rate Probability screen is telling me that there is a 98% chance of a Fed rate hike in eight days' time," noted Kathleen Brooks, research director at City Index. "Expectations for a Fed rate hike are rarely this high with more than a week to go until the rate decision."
4. Snap fizzles out: Snapchat's parent company Snap ( will be in the spotlight again after shares fizzled on Monday. )
Snap stock tanked more than 12% in trading Monday, ending the day at $23.77 a share. That puts Snap below its first day opening price of $24.
5. Coming this week: