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Wall Street considers trade data ahead of Fed minutes

U.S. stock index futures signaled a higher open on Tuesday after losses in the previous session, with the U.S. international trade gap narrowing in November and raising fourth-quarter estimates for economic growth.

, versus expectations of $39.5 billion.

The smallest deficit since June should raise fourth-quarter GDP estimates, and puts "our estimate to now above 2.5 percent," emailed Peter Boockvar, chief market analyst at the Lindsey Group.

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In prepared remarks, Boston Federal Reserve Bank President Eric Rosengren said "long-term labor market scars" led him to believe that the Fed should stay highly accommodative and wind down its stimulus very gradually.

(Read more: After a stellar 2013, expect a Nasdaq pullback)

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