US stocks will open sharply higher on Tuesday, aided by a recovery in China. The continuing season of Wall Street earnings and the latest political maneuvers will also be in focus.
SP 500 Futures futures traded 36 points, or 1.1%, higher, Nasdaq futures 117 points, or 1.3%, while the Dow futures rose 309 points or 1.1%.
Walt Disney (DIS.US) is ready to report its fiscal data for the first quarter of 2020 after the market closed on Tuesday. The market will seek guidance on their new streaming service, as well as any coronavirus effects on their amusement parks and expected movie screenings.
Ford (F.US) is also set to report earnings for the fourth quarter on Tuesday. The carmaker reported a shortfall in the previous quarter, and analysts expect another shrinkage as well as reduced revenue – and that’s before China’s problems are taken into account.
Shares of Tesla (TSLA.US) are likely to remain in focus after rising nearly 20% on Monday. The mood around the company is very positive as a result of the company’s fourth quarter results and guidance for 2020. The stock rose 7.5% in pre-market to $ 838.50, a gain of nearly $ 200 a share from Friday’s close of 650 , $ 57.
Gold futures fell 0.6% to $ 1,573.05 an ounce, while the dollar index rose 0.1% to 97,740.
Trader Milko Zashev