Stocks set for higher start
Investors to determine if 2-month-old rally can get restarted.
NEW YORK (CNNMoney.com) -- U.S. stocks were expected to open higher Tuesday, but there were signs of volatility as the two-month rally is put to the test.
At 8:41 a.m. ET, the Dow Jones industrial average, S&P 500 and Nasdaq-100 futures were higher.
Futures measure current index values against perceived future performance and offer an indication of how markets may open when trading begins in New York.
Stocks have risen for the past two months, but fell Monday as the rally hit a wall.
For Tuesday, investors have a very tentative attitude toward trading, said David Jones, chief market strategist at IG Markets in London.
"I think there is just no direction to markets at the moment," said Jones. "They're just chopping around. We're seeing tight ranges. I wouldn't be surprised if, during the course of the day, they went from positive to negative."
Referring to the recent market gains, Jones said, "We've seen some fantastic rallies across the world in the last couple of months and I think investors are waiting for the next big catalyst."
Economy: The trade deficit for U.S. goods and services rose to $27.6 billion in March from a revised $26.1 billion in February. Economists expected a deficit of $29 billion for March, according to a survey conducted by Briefing.com.
The Treasury budget comes out at 2 p.m. ET. Economists expect a deficit of $20 billion for April, according to Briefing.com consensus.
Also due out then is the Treasury's annual report on the long-term health of Social Security.
On Monday, the White House reported that 750,000 jobs will be saved or created by August as a result of the $787 billion stimulus package.
Companies: Bank of America (BAC, Fortune 500) raised $7.3 billion from the sale of part of its stake in China Construction Bank, according to published reports.
International markets: Overseas markets were mixed. In Asia, the Hang Seng index in Hong Kong ended higher, while Japan's Nikkei finished lower. European indexes were higher in midday trading.
Oil and money: The dollar was lower against major international currencies, including the yen, the euro and the British pound. The price of oil rose $1.46 to $59.96 a barrel. 
