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U.S. stock futures rose early Tuesday as chip stocks rebounded for a second day from last Friday’s rout and oil prices pulled back on hopes a U.S.-Iran deal is nearing.
Futures for the Dow Jones Industrials popped 153 points, or 0.3%, to 51,009.
Futures for the S&P 500 index grew 36.5 points, or 0.5%, to 7,452.50.
Futures for the NASDAQ Composite shot higher 237 points, or 0.8%, to 29,691.75.
Micron was higher by nearly 4% in early trading, adding to a 10% comeback on Monday. The shares tumbled about 20% in the two days ending last week, including a 13% rout on Friday.
Qualcomm was up 3% in early trading, a second day of gains after falling 11% on Friday,
WTI crude oil shed about 2% to trade under $90 a barrel as President Donald Trump said a deal between the U.S. and Iran could be reached in “two or three days” that opens the Strait of Hormuz “immediately.”
Iran on Monday halted military strikes against Israel, but warned it would resume attacks if Israeli forces continue operations in Lebanon, Tehran’s foreign ministry told the media on Monday. Hours later, Israeli Prime Minister Benjamin Netanyahu said the conflict with Iran and Hezbollah was “not yet over.”
In Japan, the Nikkei 225 recovered 2.2% Tuesday, while in Hong Kong, the Hang Seng dipped 0.4%.
Oil prices dumped $2.21 to $89.09 U.S. a barrel.
Gold prices dropped 80 cents to $4,362.80 U.S an ounce.
