U.S. stock futures pointed to a return to winning ways Tuesday, as traders grappled with concerns over how the global economy will withstand a more deadly variant of coronavirus as well as Chinese regulatory action.
- Futures on the Dow Jones Industrial Average YM00, +0.44% rose 156 points;
- Futures on the S&P 500 ES00, +0.37% rose 0.4%;
- Futures on the Nasdaq Composite NQ00, +0.16% added 0.2%.
U.S. stocks couldn’t hold early gains on Monday as the Dow Jones Industrial Average DJIA, -0.28% and the S&P 500 SPX, -0.18% each ended lower, while the tech-heavy Nasdaq Composite COMP, +0.06% squeaked out a slight gain. The combined volume on the New York Stock Exchange and Nasdaq was the seventh lowest of the year
What’s driving markets
Mask mandates have been reintroduced in various U.S. regions including Louisiana and San Francisco to confront the delta strain of coronavirus. The U.S. did achieve the 70% vaccination target set by President Joe Biden. China announced fresh mass testing in Wuhan, the city where the disease was first discovered.
There’s plenty of earnings reports still coming in, as chemicals giant DuPont de Nemours DD, -0.53% lifted its earnings guidance for the year.
Mall operator Simon Property Group SPG, -0.16% late Monday raised its full-year guidance and lifted its dividend payment after reporting 92% occupancy, while office building owner Vornado Realty Trust VNO, -0.46% met second-quarter estimates and reported a 97% rent collection rate .
Outdoor clothing maker Columbia Sportswear COLM, +1.80% lifted its sales guidance. Video-games maker Take-Two Interactive TTWO, -0.12% guided toward a weaker current quarter than analysts expected, and Chinese video games makers including Tencent 700, -6.11% tumbled in Hong Kong trade after a report suggested authorities would take action against them.
In Europe, oil giant BP BP, -0.41% and Chrysler maker Stellantis STLA, +0.57% advanced after their quarterly results.
Factory orders data is due at 10 a.m. Eastern.