U.S. stock futures rose on Tuesday, with traders trying to regain their footing after the Dow Jones Industrial Average notched a fifth day of losses. Traders also looked ahead to a key inflation report due Tuesday.
Futures for the 30-stock index surged 197 points, or 0.6%, early Tuesday to 32,252.
Futures for the S&P 500 grabbed 29 points, or 0.7%, to 3,917.75.
Futures for the NASDAQ Composite jumped 83 points, or 0.7%, to 12,138, as some investors bet the collapse at Silicon Valley Bank could mean a pause in future interest rate hikes from the Federal Reserve.
Bank stocks rebounded somewhat after getting pummeled during Monday's trading session. The SPDR S&P Regional Banking ETF (KRE) rose more than 6% in premarket trading. Shares of First Republic Bank popped more than 40% in extended trading, after closing down nearly 62% on Monday. KeyCorp shares added about 13% in a relief bounce following a 27% decline.
Investors are anticipating the latest inflation data. Due out Tuesday before the bell, the February consumer price index is expected to show a rise of 0.4% last month, according to consensus estimates from Dow Jones. That's down from a 0.5% increase the prior month.
Elsewhere, GitLab shares tumbled 31% in trading after the open source software firm issued weaker-than-expected first quarter and full-year revenue guidance.
In Japan, the Nikkei 225 index retreated 2.2% Tuesday, while in Hong Kong, the Hang Seng sank 2.3%.
Oil prices dipped $1.55 to $73.25 U.S. a barrel.
Gold prices sank $8.10 to $1,908.40 U.S. an ounce.