U.S. stock index futures pointed to triple-digit gains on Tuesday, as investors awaited a flurry of earnings results from major companies.
At around 4:30 a.m. ET, Dow futures were seen 95 points higher, indicating a positive open of more than 114 points. Futures on the S&P 500 and Nasdaq were also seen relatively upbeat on Tuesday morning.
The moves in pre-market trade come despite fears of a sharp escalation in the trade war between the world’s two largest economies.
On Monday, a Bloomberg report suggested the U.S. could be preparing to announce tariffs on all remaining Chinese imports by early December if talks between presidents Donald Trump and Xi Jinping breakdown next month.
The White House has raised the possibility of such a move previously, but this is the first time a timeline has been reported.
U.S. stocks closed lower on Monday, giving up sharp gains in a turbulent session that saw the Dow travel than 900 points. Market participants cited the possibility of more U.S.-China tariffs and a drop in tech stocks for the decline.
On the data front, consumer confidence for October is scheduled to be published at around 10:00 a.m. ET. Third-quarter housing vacancies and Dallas Fed services data for October are due to be released later in the trading day on Tuesday.
In corporate news, investors are likely to monitor a slew of earnings reports Tuesday. Coca-Cola, Fiat Chrysler and General Electric are among the major companies scheduled to release their latest quarterly figures before the opening bell.