U.S. stock futures were higher early Tuesday after the major indexes fell, as worries grew that tensions in the Middle East could rise again. Futures on the Nasdaq 100 (NDX), the Dow Jones Industrial Average (DJIA), and the S&P 500 (SPX) Index were up 0.52%, 0.21%, and 0.3%, respectively, at 5:30 a.m. EDT on May 5.
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During regular trading on Monday, major indexes fell after the United Arab Emirates said Iran launched drones and missiles at it, raising fears that the already fragile ceasefire between the U.S. and Iran could break down again. Overall, the Dow Jones, the S&P 500, and the Nasdaq were down 1.1%, 0.4%, and 0.2%, respectively.
A busy earnings slate awaits on Tuesday, with Pfizer (PFE), PayPal (PYPL), HSBC (HSBC), Anheuser-Busch InBev (BUD), Marathon Petroleum (MPC), Super Micro Computer (SMCI), AMD (AMD), BigBear.ai (BBAI), Joby Aviation (JOBY), Lucid (LCID), and Shopify (SHOP) set to report.
Traders will also watch for new data on the U.S. trade deficit and the latest Job Openings and Labor Turnover Survey.
European markets edged higher on Tuesday, rebounding from the previous session’s decline as investors looked past rising Middle East tensions and turned their focus back to the ongoing earnings season.
Asia-Pacific Markets Quiet as Most Markets Remain Closed
Today, most major Asia-Pacific markets are closed for public holidays, leading to a quiet day of trading across the region.
However, Hong Kong’s Hang Seng Index fell 0.76% to close at 25,898.61.