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U.S. futures pointed to a partial recovery for the three major stock indexes at Tuesday’s open after a steep stock selloff in the prior session.
Futures for the Dow Jones Industrial Average gained 155 points, or 0.7%, to 23,840
Futures for the S&P 500 picked up 17.5 points, or 0.7%, to 2,573.25,
The Dow and S&P 500, which are both in corrections, are on track for their worst December performance since the Great Depression in 1931, down more than 7% so far for the month. The S&P 500 is now in the red for 2018 by 4%.
NASDAQ futures increased 54 points, or 0.8%, to 6,543.25.
E-commerce giant Amazon — which sank nearly 4.5% on Monday — rallied 1.5% before the bell. Aircraft and aerospace manufacturer Boeing jumped 2.3% in pre-market trading after hiking its dividend by 20%, and chipmakers Nvidia and Advanced Micro Devices both gained at least 1.2%.
The Federal Reserve is widely expected to hike its benchmark overnight lending rate for a fourth and final time of 2018 when it concludes a two-day policy meeting on Wednesday. While fears of rising interest rates have spooked markets throughout the year, such concerns have heightened over the past month as inflation and growth expectations recede.
Overseas, in Japan, the Nikkei 225 fell 1.8% Tuesday, while in Hong Kong, the Hang Seng index lost 1.1%.
Oil prices docked $1.16 to $48.72 U.S. a barrel.
Gold prices dipped 50 cents to $1,251.30 U.S. an ounce.
