(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)

US equity futures were higher pre-bell Tuesday as the Nasdaq posted a record-high close on Monday and oil prices declined.

Dow Jones Industrial Average futures were 0.5% higher, S&P 500 futures were up 0.4%, and Nasdaq futures were 0.5% higher.

The Nasdaq ended Monday at 27,471.42, its second consecutive day of sharp gains after lower-than-expected jobs data on Friday reduced expectations for a Federal Reserve interest rate hike this month.

President Donald Trump signed an executive order late Monday to temporarily allow truckers and farmers to use tax-exempt red-dyed diesel, which is typically used in farm operations and construction machinery, aiming to help bring down surging diesel prices, according to multiple reports.

Oil prices were lower, with front-month global benchmark North Sea Brent crude down 2.6% at $97.72 per barrel and US West Texas Intermediate crude 2.3% lower at $87.39 per barrel.

The US international trade deficit, released at 8:30 am ET, widened to $105.57 billion in August from a $92.83 billion gap in July, compared with a $102.1 billion gap expected in a survey compiled by Bloomberg.

Federal Reserve New York President John Williams, Vice Chair for Supervision Michelle Bowman, Kansas City President Jeffrey Schmid, and Dallas President Lorie Logan are slated to speak on Tuesday.

In other world markets, Japan's Nikkei closed 1.1% higher, and Hong Kong's Hang Seng ended 1% higher. China's Shanghai Composite was closed for a public holiday. Meanwhile, the UK's FTSE 100 was up 0.3%, and Germany's DAX index was 0.6% higher in Europe's early afternoon session.

In equities, AMD (AMD) shares rose 1.7% after a Reuters report citing Chief Executive Lisa Su that the company is planning to "substantially increase" its chip supply next year to meet rising demand driven by the AI boom. HSBC (HSBC) stock was up 1.3% after the company and Ant International said they expanded their collaboration to improve real-time treasury management services in the Middle East. Constellation Energy (CEG) stock was 8.2% higher after the company and Alphabet's (GOOG, GOOGL) Google said they entered into a 20-year deal to add 890 megawatts of nuclear power to the PJM interconnection grid.

On the losing side, Seagate Technology (STX) shares were down 2.7% after a Bloomberg report that the company and Toshiba are competing to acquire TDK's magnetic-head business for hard-disk drives in a deal that could be worth several billion dollars.