Stocks Set for Higher Open after Dow Breaks 25K

U.S. stock index futures pointed to a higher open Tuesday, continuing the positive sentiment that sent the Dow Jones industrial average above the 25,000 threshold Monday for the first time since March.

Futures for the Dow gained 53 points, or 0.2%, to 25,055

S&P 500 futures gained 4.75 points, or 0.2%, to 2,737.50, while futures for the NASDAQ composite index picked up 23.25 points, or 0.3%, to 6,939

On Monday, the Dow surged nearly 300 points while the S&P 500 gained 0.7% and the NASDAQ composite advanced 0.5%.

Monday’s rally followed remarks by Treasury Secretary Steven Mnuchin that the prospect of a trade war between the U.S. and China was “on hold” after an agreement to suspend tariff threats.

Mnuchin added that there had been “very meaningful progress” with China on trade matters. “Now it’s up to both of us to make sure that we can implement it”.

The comments helped ease trade tensions with China. Further smoothing those tensions was news that China will cut tariffs on some car parts and vehicles, sending auto stocks higher. Ford, GM and Tesla all rose in the pre-market.

In data, the Richmond Fed surveys are due out at 10 a.m. ET.

In Japan, the Nikkei 225 faded 0.2%, while markets in Hong Kong were shuttered for holiday.

Oil prices gained 23 cents to $72.58U.S. per barrel.

Gold prices hiked $3.20 to $1,294.10U.S. an ounce.

This article provided by NewsEdge.