Stock futures rose Tuesday, as Wall Street looked to rebound from a down session, while traders weighed Federal Reserve Chair Jerome Powell's latest rate hike comments.
Futures for the Dow Jones Industrials vaulted 146 points, or 0.4%, to 34,582,
Futures for the S&P 500 hiked 11.25 points, or 0.3%, to 4,463.50.
Futures for the NASDAQ Composite Index moved upward 14 points, or 0.1%, to 14,384.50.
Bank stocks inched higher in early morning trading as interest rates rose. JPMorgan and Bank of America rose about 0.8% in the pre-market.
Nike shares moved up more than 5% in the premarket after the retailer reported a beat on the top and bottom lines for its fiscal third quarter, buoyed by strong demand in North America.
Procter & Gamble added about 1% in premarket trading as Truist upgraded the stock to a buy rating and said the company's fundamentals are undervalued.
Wall Street was coming off a volatile session Monday, as Powell vowed to take “necessary steps” to curb inflation.
The Dow on Monday snapped a five-day winning streak, while the S&P 500 and the NASDAQ saw their first down session after four consecutive positive days.
Less than a week after the Fed raised rates for the first time since 2018, Powell on Monday said “inflation is much too high” and added that rates could increase by a greater magnitude than previously forecast.
In Asia, the Nikkei 225 in Japan returned to trading with a vengeance, gaining 1.5%, while in Hong Kong, the Hang Seng index leaped 3.2%.
Oil prices captured 38 cents to $112.50 U.S. a barrel.
Gold prices slipped $1.90 to $1,927.60 U.S.