Futures for stock indexes climbed marginally early Tuesday after their hefty rise on Monday with more earnings results coming out, and oil prices rebounded as well.
Futures for Dow Jones Industrial Average
were up by about 0.1%, or 34 points. Futures for S&P 500 index
rose by about 0.1%. Futures for Nasdaq-100 index
rose by 0.41%.
Palantir Stock
surged by over 17% in pre-market trading as the artificial intelligence and data analysis firm released impressive earnings on Monday with revenue jumping 93% compared to the same period last year. SpaceX
will be releasing their quarterly earnings for the first time as a publicly listed firm today and the shares are up 0.8% before the market opens.
Corporate earnings reports are expected to be released later by companies like Caterpillar
and McDonald’s.
AMD
will be reporting its earnings after the bell today.
Monday proved to be very positive for the main indexes as the Dow set a new record close after Amazon reached its historic level of $3 trillion. The stock of Nvidia also rocketed on Monday, alongside Meta Platforms.
“Animal spirits remain healthy to start the month,” said Jose Torres, senior economist at Interactive Brokers, referring to the positive release of the latest numbers on manufacturing and service sector growth. “Recent earning calls support expectations that capital returns can be impressive due to substantially lower valuations amid deep tech sell-off.”
Oil prices were higher on Tuesday as WTI futures surged 2.3% to $82.18, while Brent oil prices increased by 2.76% to settle at $86.06.
Economic data due to be released will feature the manufacturing orders report for June and international trade numbers.
In Europe, the Stoxx 600 was up 0.46% in early trading. The Italian FTSE MIB
outperformed, gaining 1.1%. Germany’s DAX was up 0.63%, while the U.K.’s FTSE 100 gained. However, the French CAC 40 went into reverse, hovering near the flatline.
In Asia, the Kospi of South Korea
went up 1.62%, while the Kosdaq Index advanced 5.8%. Japan’s Nikkei 225 went up 0.32% to 17,366.75, while the Topix was almost unchanged at 3,961.78. The CSI 300 of mainland China advanced by more than.
Here is what’s happening before the opening bell on Wall Street
Stock Futures Up on Tuesday After Strong Monday Performance
Nasdaq-100 futures were leading premarket gains by moving up 0.74%.
Oil prices surged above 2% on Tuesday despite efforts by U.S. President Donald Trump who argued that discussions between the two nations are underway.
Futures on Brent crude oil for October delivery went up 2.82% to trade at $86.13 per barrel. Futures on WTI crude oil for September delivery increased 2.34% to trade at $82.22 per barrel.
HSBC, Europe’s biggest bank, reported its second-quarter profit before tax of $10.1 billion which exceeded analyst expectations.
Asian stocks closed higher on Tuesday. South Korea’s Kospi.
OIL PRICES MAKE GAINS AS U.S.-IRAN TALKS FAVORABLE
WTI futures were up 2.09% to trade at $82.02 a barrel by 4:53 a.m. ET. Meanwhile, Brent crude, which is the world’s benchmark for oil prices, was up 2.8% at.
Treasury rates go up
Yields on Treasuries saw a slight increase early Tuesday due to speculation over the uncertainty surrounding the current situation regarding negotiations in the Middle East.
The yield on the 10-year U.S. Treasury note, considered to be the benchmark for U.S. government borrowing costs, increased by 1 basis point to 4.7021%.
Yield on the shorter-duration 2-year Treasury note, a more accurate measure of Fed interest rates, held steady at 4.2621%. Yield on the longer-term 30-year Treasury bond rose by 2 basis points to 5.2498%.
Asia Pacific stocks end the day higher
Markets in the Asia-Pacific region finished up on Tuesday. The Kospi
index in South Korea increased by 1.62% to finish at 6,358.95.
The Kosdaq Index saw a rally of 5.8% to close at 780.72.
Japan’s Nikkei 225
gained 0.32% to finish at 63,957.53, while the Topix index was nearly unchanged to close at 3,961.78.
