Stocks Rise to Begin Short Week

Stock futures moved marginally on Tuesday morning as investors await inflation data due at the end of the shortened trading week for a better picture of the market’s outlook.

Futures for the Dow Jones Industrials shrank 34 points, or 0.1%, to 39,123.

Futures for the S&P 500 marched ahead eight points, or 0.2%, at 5,329.50.

Futures for the NASDAQ Composite tacked on 49 points, or 0.3%, to 18,925.

Nvidia shares ticked up more than 2% in the premarket, putting them on track to build on last week’s strong gains.

GameStop shares surged nearly 27% following the company’s announcement on Friday that it had made around $933.4 million from a stock sale. The company sold 45 million common shares.

Stocks are on track to end May’s trading month, which concludes with Friday’s closing bell, on a strong note. Softer inflation data earlier this month and better-than-expected quarterly earnings reports lifted sentiment, with the former suggesting Federal Reserve rate cuts could come earlier than investors had anticipated.

This month, the S&P 500 has advanced 5.3%, while the NASDAQ has rallied about 8%, after ending last week at a fresh record high. The Dow is up 3.3%, meanwhile, and topped 40,000 for the first time ever this month.

American markets were closed Monday for Memorial Day

In Japan, the Nikkei 225 shied away 0.1%, while in Hong Kong, the Hang Seng index gave up six points.

Oil prices gained $1.11 to $78.83 U.S. a barrel.

Gold prices brightened $14.80 to $2,349.30 U.S. an ounce.