Stock futures rose Tuesday morning as worries over COVID cases in China kept investor sentiment in check during a short week of trading for the Thanksgiving holiday.
Futures for the Dow Jones Industrials galloped 111 points, or 0.3%, to 33,846. Losses on the Dow Monday were kept in check by a 6.3% gain in Disney following the return of Bob Iger as CEO.
Futures for the S&P 500 forged ahead 13.5 points, or 0.3%, to 3,971.50.
Futures for the NASDAQ Composite raced 29.5 points, or 0.3%, to 11,617.50.
Shares of Best Buy popped 7.3% in premarket trading after the company hiked its 2023 fiscal outlook and beat earnings expectations.
Investors are also watching for earnings reports from Dollar Tree, Best Buy, HP and Nordstrom. The stock market will be closed on Thursday for the Thanksgiving holiday and will close early on Friday.
Economic reports due out include the Philadelphia Fed's nonmanufacturing business outlook survey and the Richmond Fed's manufacturing index.
China saw its first deaths in the mainland from COVID since May over the weekend. It prompted fears among investors that the country could bring back restrictions meant to slow virus spread, which would hurt business.
In Japan, the Nikkei 225 poked ahead 0.6% Tuesday, while in Hong Kong, the Hang Seng Index stumbled 1.3%.
Oil prices jumped $1.55 to $81.60 U.S. a barrel.
Gold prices brightened $6.30 to $1,745.90 U.S. an ounce.