By Sara Sjolin, MarketWatch

Trade deficit expected to widen as strong dollar hurts export

U.S. stock futures pared earlier solid gains on Tuesday as investors remained cautious ahead of key meetings on Greece's future in the eurozone.

Futures for the Dow Jones Industrial Average was up 44 points, or 0.3%, to 17,671, while those for the S&P 500 index picked up 5.90 points, or 0.3%, to 2,070.25. Futures for the Nasdaq-100 index climbed 6 points, or 0.1%, to 4,428.25.

Markets were still jittery after Monday's session (http://www.marketwatch.com/storyno-meta-for-guid), when concerns over Greece's landslide referendum result and tumbling oil prices added pressure on U.S. stock markets, which closed with losses of 0.3%-0.4%.

Greece remained in the headlines on Tuesday as the Eurogroup meeting of finance ministers convened for an emergency meeting in Brussels to discuss what's next for Greece after Sunday's referendum. Eurogroup President Jeroen Dijsselbloem said on arrival for the meeting that it is going to be difficult to reach an agreement (http://www.marketwatch.com/story/dijsselbloem-after-greek-no-vote-difficult-to-reach-debt-deal-2015-07-07-7911950) after the "no" vote.

Eurozone leaders meet in Brussels later on Tuesday. Greece's Alexis Tsipras-led government is expected to submit a fresh set of reform proposals ahead of the meetings. Read: Greek debt crisis: Who's meeting and when on Tuesday (http://www.marketwatch.com/story/greek-debt-crisis-whos-meeting-and-when-on-tuesday-2015-07-07)

Greece's stock market will remain shut Tuesday and Wednesday (), alongside the extended closure of the country's banks, the Hellenic Capital Market Commission said.

U.S. data: The U.S. trade deficit figure for May is due at 8:30 a.m. Eastern Time, and economists polled by MarketWatch expect a widening to $42.1 billion, from $40.9 billion in April (http://www.marketwatch.com/story/us-trade-deficit-sinks-19-in-april-2015-06-03).

"Trade data have been volatile in recent months as a result of the West Coast port strikes that were resolved in mid-February," said Barclays analysts in a note.

"Exports have softened over the past six months on weak international demand and the stronger dollar. Container volumes for May suggest a modest uptick in imports and a decline in exports, which we expect to lead the deficit to widen," they added.

At 10 a.m. Eastern, a report on job openings for May is due, followed by consumer-credit numbers for the same month at 3 p.m. Eastern.

There are no Fed speakers on the docket for Tuesday.

Oil rebound:Oil prices partly recovered (http://www.marketwatch.com/story/crude-oil-struggles-to-recover-from-selloff-2015-07-07) from Monday's carnage, with the August contract for crude oil rising 0.3% to $52.65 a barrel. Brent crude for the same month gained 1.1% to $57.14 a barrel.

The contracts slid 7.7% and 6.3% (http://www.marketwatch.com/story/oil-tumbles-4-after-greek-voters-reject-creditors-reform-proposal-2015-07-06), respectively, on Monday. The selloff was driven by the turmoil in Greece and a potential Iranian nuclear deal, which may result in a flood of millions of barrels of oil, adding to global supplies.

Movers & shakers: Shares of Advanced Micro Devices Inc.(AMD) sank 11% premarket after the chip maker cut its outlook late Monday (http://www.marketwatch.com/story/amd-warns-revenue-to-fall-short-on-weak-pc-demand-2015-07-06).

A. Schulman Inc.(SHLM) could also be active, after the plastic manufacturer late Monday said it swung to a loss in the third quarter (http://www.marketwatch.com/story/a-schulman-swings-to-a-loss-cuts-forecast-2015-07-06-174854739).

Advance Auto Parts Inc.(AAP) was further in the spotlight after S&P Dow Jones Indices said on Monday it would add the company's stock to the S&P 500 index (http://www.marketwatch.com/story/advance-autoparts-set-to-join-the-sp-2015-07-06).

Before the market open on Tuesday, MSC Industrial Direct Co.(MSM) said third-quarter profit fell less than expected, but the company issued an earnings and revenue forecast below analyst expectations.

Other markets: Chinese stock indexes moved sharply lower (http://www.marketwatch.com/storyno-meta-for-guid), continuing the recent downbeat trend in the country's financial markets. Trading was halted in shares (http://www.marketwatch.com/story/over-20-of-listed-china-stocks-now-in-trading-halt-2015-07-07) in more than 200 mainland-traded China-traded companies during the selloff. The rest of Asian markets closed mixed. European stocks struggled for direction (http://www.marketwatch.com/storyno-meta-for-guid), with investors waiting for the latest word on Greece.

Gold declined, while the dollar moved higher against most major currencies.

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