(RTTNews) - In hopes that the Strait of Hormuz will reopen, U.S. stock futures edged higher on Tuesday. Early indications suggest Wall Street could open in positive territory.
Brent crude futures fell below $83 a barrel, gold traded higher at $4,328 an ounce, while the dollar remained near 10-day lows.
As of 8.00 am ET, the Dow futures were gaining 44.00 points, the S&P 500 futures were adding 6.25 points and the Nasdaq 100 futures were up 79.25 points.
The U.S. major averages finished strong gains on Monday. The Nasdaq surged 795.10 points or 3.1 percent to 26,683.94, the S&P 500 jumped 122.83 points or 1.7 percent to 7,554.29 and the Dow advanced 468.77 points or 0.9 percent to 51,671.03.
On the economic front, the Housing Starts and Permits for May will be released at 8.30 am ET. The consensus is 1.430 million, while it was up 1.465 million in the prior month.
The Import and Export Prices for May will be issued at 8.30 am ET. The consensus is 1.3 percent, while it was up 1.9 percent in the prior month.
Twenty-year Treasury Bond will be held at 1.00 pm ET.
Asian stocks turned in a mixed performance on Tuesday. China's Shanghai Composite index slipped 0.11 percent to 4,091.89.
Hong Kong's Hang Seng index slumped 1.40 percent to 24,493.95.
Japanese markets ended slightly higher. The Nikkei average ended up 0.13 percent at 69,404.50, after having crossed the 70,000-point mark for the first time earlier. The broader Topix index dipped 0.21 percent to 3,991.14.
Australian markets ended marginally higher.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
