US pre-open: Stocks expected to rise on optimism on Greece

The main US equity gauges were being called to register moderate gains at the start of trading on Tuesday afternoon on speculation that a last minute solution to the current stand-off between Greece and its international creditors might now be on the table.

Greek media reported that prime minister Alexis Tsipras has arranged a call with European Commission president Jean-Claude Juncker this afternoon, at 15:30 local time.

However, a spokeswoman for the European Commission said: “Our expectations are low that any final agreements will be reached on Greece this week."

In parallel, a separate report from Market News International (MNI), citing sources, said the European Union (EU) could allow an extension of Greece’s bail-out programme.

Stock in US beverage manufacturer Coca-Cola was moving higher after the company announced fourth quarter results, of $771m, which beat expectations. In adjusted terms the outfit’s earnings per share (EPS) reached 44 cents, ahead of the 42 cent profit anticipated by analysts.

Retailer Home Depot is looking to recruit over 80,000 in new staff as it moves to make preparations for its spring campaign.

The NFIB’s gauge of small business confidence advanced to a reading of 97.9 from 100.4 in the prior month (consensus: 101).

US 10-year Treasury yields were edging higher by two basis points to hit 2%.

Front month West Texas crude futures were slipping by 1.08% to the $52.26 per barrel mark on the NYMEX.