HAL - Stocks to Open Higher amid Ukraine War

U.S. stock futures struggled for direction Tuesday as investors continue to monitor developments in the Russia-Ukraine conflict along with a fresh Covid-19 spike in China.

Futures for the Dow Jones Industrials gained 140 points, or 0.4%, to 32,978.

Futures for the S&P 500 increased 22.75 or 0.6%, to 4,186.25

Futures for the NASDAQ Composite Index jumped 105.5 points, or 0.8%, to 13,149.50.

Many energy names were under pressure in the premarket. Occidental Petroleum fell more than 5%, while Schlumberger and Halliburton each lost more than 4%. Shares of tech giant Apple also dipped 0.5%.

The city of Kyiv, Ukraine's capital, has announced a 35-hour curfew that starts at 8 p.m. local time following Russian missile strikes. Russia and Ukraine were also set to resume talks on Tuesday. Meanwhile, Russia is approaching a series of deadlines to make payments on its debt.

Elsewhere, officials from the United States and China met on Monday to discuss a range of challenges facing their bilateral relationship, including Russia's ongoing war in Ukraine.

The Federal Reserve is slated to kick off an important two-day meeting Tuesday, with investors expecting a quarter-point rate hike to be announced Wednesday.

Mounting inflationary concerns will weigh on the Fed meeting. A lockdown in China could worsen supply chain issues, after a surge in coronavirus cases suspended production in cities such as Shenzhen, a key manufacturing city. The Russia-Ukraine conflict had already led to a spike in commodities prices.

Oil prices slid $6.59 to $96.42 U.S. a barrel.

Gold prices settled $36.30 to $1,924.50 U.S.

In Asia, the Nikkei 225 index edged up 0.2% Tuesday, while in Hong Kong, the Hang Seng index was again pounded, this time, 5.7%.