Stock futures rise slightly after rip-roaring rally leads Dow to record closing high: Live updates

Stock futures moved higher early Tuesday following a sharp jump in key indexes a day earlier, powered by a decline in oil prices and gains in major tech names.

Dow Jones Industrial Average futures were up 0.16%, or 83 points. S&P 500 futures gained around 0.19%. Nasdaq-100 futures advanced 0.74%.

In Europe, the Stoxx 600 added 0.46% in morning trade, with the Italian FTSE MIB leading the advance, rising 1.1%. Germany’s DAX was up 0.63%, and the U.K.’s FTSE 100, but in France the CAC 40 hit reverse, moving just below the flatline.

In Asia, South Korea’s Kospi rose 1.62%, while the small-cap Kosdaq Index jumped 5.8%. Japan’s Nikkei 225 rose 0.32% and the Topix was little changed at 3,961.78. Mainland China’s CSI 300 rose more than 1%, while the Hong Kong’s Hang Seng rose 0.21%.

The major stock averages surged in Monday’s session, with the Dow closing at a record high, as Amazon eclipsed $3 trillion in market cap for the first time. Nvidia shares also ripped higher along with Meta Platforms. Google parent Alphabet and Microsoft also popped during the day.

“Animal spirits are buoyant to begin the month,” said Jose Torres, senior economist at Interactive Brokers. He noted that the latest manufacturing and services sector data released Monday and “recent earnings calls boost confidence that capital return prospects could impress amid valuations that have become substantially cheaper during the deep tech selloff.”

Oil prices also fell on the day, giving equities an extra boost. WTI crude dropped 5.1% to settle at $80.34 per barrel. The move came after President Donald Trump walked back plans for additional attacks on Iran.

Investors on Tuesday will pore through a slew of corporate earnings reports from companies such as Caterpillar and McDonald’s. Chipmaker AMD is also set to post results after the bell.

Economic data set for release include June factory orders as well as international trade figures for the month.