U.S. Index Futures on the Rise, Oil Prices Show Stability

U.S. index futures are showing an uptrend in pre-market trading this Tuesday, with investors keen on driving a recovery that had previously lifted stocks to their all-time highs, looking to reverse the losses seen in the previous session.

At 06:19 AM, Dow Jones futures (DOWI:DJI) rose 103 points, or 0.26%. S&P 500 futures advanced 0.40%, and Nasdaq-100 futures gained 0.50%. The 10-year Treasury bond yield was at 4.234%.

In the commodities market, West Texas Intermediate crude oil for May rose 0.02% to $81.97 per barrel. Brent crude for May fell 0.03%, near $86.72 per barrel. Iron ore traded on the Dalian exchange fell 3.72% to $112.84 per metric ton. The April benchmark iron ore SZZFJ4 on the Singapore Exchange fell 4.34% to $103.85 a ton.

On the economic agenda this Tuesday, the highlights include February’s durable goods orders at 8:30 AM, by the Commerce Department; the January S&P Case/Shiller index at 09 AM, reflecting residential property prices; and at 10 AM, the March consumer confidence index, by the Conference Board.

Asian markets had mixed movements, reflecting varied reactions to sectoral and economic developments. In China, the Shanghai Composite index saw a slight increase of +0.17%, driven by optimism in the real estate sector and positive comments from the PBoC chairman. In Hong Kong, the Hang Seng index grew +0.88%, benefited by the performance of developers. In Japan, the Nikkei showed stability (-0.04%), balancing advances in the semiconductor sector with declines in banks and railways, highlighting the global influence of the chip industry. South Korea’s Kospi index appreciated +0.71%. On the other hand, Australia’s ASX 200 recorded a drop of -0.41%.

European markets are experiencing uncertain movements as investors reflect on the recent policy decisions made by central banks in Europe and the United States last week.

At Monday’s close, the Dow Jones, S&P 500, and Nasdaq fell 0.41%, 0.31%, and 0.27%, respectively, impacted by weakness in the technology sector, especially after reports on Chinese restrictions on microprocessors. While Intel (NASDAQ:INTC) and AMD (NASDAQ:AMD) faced significant declines, sectors such as aviation and oil services showed positive performance, contrasting with the overall market trend.

In terms of quarterly results, financial reports are scheduled to be presented before market open by McCormick (NYSE:MKC), TD Synnex Corp (NYSE:SNX), Bragg Gaming Group (NASDAQ:BRAG), Terran Orbital (NYSE:LLAP), VolitionRX Limited (AMEX:VNRX), Luna Innovations (NASDAQ:LUNA), GDS Holdings Ltd (NASDAQ:GDS), Douyu International Holdings (NASDAQ:DOYU), Elbit Systems (NASDAQ:ESLT), among others.

After the close, results from GameStop (NYSE:GME), Noah Holdings (NYSE:NOAH), Intrusion (NASDAQ:INTZ), Panbela Therapeutics (NASDAQ:PBLA), Direct Digital Holdings (NASDAQ:DRCT), Ouster (NYSE:OUST), Progress Software Corporation (NASDAQ:PRGS), Concentrix (NASDAQ:CNXC), nCino Inc (NASDAQ:NCNO), Biora Therapeutics (NASDAQ:BIOR), and more are awaited.