U.S. stock futures pointed to a small rise at the open Tuesday, setting the Dow up for more gains after its 320-point rally pinned on strong economic data that offset trade-related fears.
What are the main benchmarks doing?Dow Jones Industrial Average futures YMU8, +0.27% tacked on 67 points, or 0.3%, to 24,841, while S&P 500 futures ESU8, +0.22% added 6.35 points, or 0.2%, to 2,793.75. Nasdaq-100 futures NQU8, +0.35% rose by 25.25 points, or 0.4%, to 7,325.50.
On Monday, the Dow DJIA, +1.31% closed higher by 320.11 points, or 1.3%, as the S&P 500 SPX, +0.88% and Nasdaq Composite COMP, +0.88% each added 0.9%.
The blue-chip gauge turned positive for the year on Monday, flipping to a 0.2% gain, while the S&P and tech-laden Nasdaq have advanced 4.1% and 12%, respectively, as of Monday’s close.
What’s driving markets?Investors are bracing for a round of quarterly earnings reports that are expected to show off Corporate America’s health. PepsiCo Inc.’s PEP, -1.64% posted better-than-expected earnings before the open Tuesday, sending its stock up by 2% in premarket action. A trio of giant banks — J.P. Morgan Chase & Co. JPM, +3.09% , Citigroup Inc. C, +2.68% and Wells Fargo & Co. WFC, +1.57% — are due to reveal their results Friday.
Meanwhile, recent economics reports have been seen as underlining the strength of the American economy at a time when many investors are concerned about worsening relations between the U.S. and its major trading partners.
What are strategists saying?“With the prospect of a positive earnings season ahead of us, investors seem to have forgotten the threat of further trade tensions,” said Konstantinos Anthis, head of research at ADS Securities, in a note Tuesday.
Which other stocks are in focus?In the media sector, Twenty-First Century Fox Inc. FOX, +1.34% is preparing to counter Comcast Corp.’s CMCSA, -0.06% latest offer for Sky PLC SKY, +2.28% with a new, higher bid, according to a Financial Times report.
Which economic reports are on tap?A June report on U.S. small-business confidence showed sentiment has slipped, but it’s still high by historical standards.
At 10 a.m. Eastern, a May reading on job openings is scheduled for release.
Check out: MarketWatch’s Economic Calendar
On the Federal Reserve front, no Fed officials are expected to give speeches on Tuesday.
What are other markets doing?European stocks SXXP, +0.36% traded mostly higher, and Asian markets largely closed with gains.
Gold futures GCQ8, -0.48% were falling, U.S. oil futures CLQ8, +0.51% were climbing, and the ICE U.S. Dollar Index DXY, +0.27% was advancing.
