Wall Street set to rise on trade deal relief; business activity data eyed

REUTERS: Wall Street's main indexes were set to rise on Tuesday as investors took heart from reassurances that the Phase 1 trade agreement with China was intact, while upbeat business activity data from Europe boded well for U.S. surveys due later.

A boost from technology stocks helped Wall Street's three major indexes close higher on Monday, with the tech-heavy Nasdaq registering its fourth record closing high this month. "And then probably, we start to take a rest towards the end of the summer for a little bit before the economy truly starts to catch up to where the market is."After European stock markets were boosted by better-than-feared business activity surveys for June, all eyes will be on U.S. manufacturing and services sector PMI numbers, due 9:45 a.m. ET .

Among premarket movers, Nike Inc rose 2per cent as brokerages raised their price targets ahead of quarterly results on Thursday.

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