U.S. index futures rose in Tuesday’s pre-market as investors anticipate key corporate earnings. Reports from companies like Pfizer (NYSE:PFE), McDonald’s (NYSE:MCD), and later Alphabet (NASDAQ:GOOGL), AMD (NASDAQ:AMD), and Visa (NYSE:V) are on investors’ radars.

At 4:41 AM, Dow Jones futures (DOWI:DJI) were up 4 points, or 0.01%. S&P 500 futures gained 0.10%, while Nasdaq-100 futures advanced 0.17%. The 10-year Treasury yield stood at 4.306%.

In commodities, West Texas Intermediate crude for December rose 0.82%, reaching $67.92 per barrel, while Brent for December increased 0.78%, to $71.97 per barrel.

Oil prices slightly rebounded after a 6% drop in the previous session, supported by the U.S.’s intention to replenish the Strategic Petroleum Reserve (SPR).

The U.S. plans to purchase up to 3 million barrels of oil for the Strategic Reserve by May 2025, but the government will need additional congressional funding for further acquisitions. This buyback aims to restock after selling 180 million barrels in 2022, while the Department of Energy collaborates with lawmakers to prevent scheduled sales and reduce the impact on strategic reserves.

Global demand concerns still pressure the market, while attacks between Israel and Iran, targeting military sites, have not affected oil infrastructure. Tensions remain high, yet a temporary stability is expected.

Gold (PM:XAUUSD) neared a record, rising 0.6% to $2,751.07 per ounce, with investors awaiting crucial economic data ahead of the next Federal Reserve decision. Rate cut expectations favor the non-yielding metal, and safe-haven demand has grown amid the U.S. presidential race, supporting gold’s gains.

Today’s U.S. economic agenda includes the September S&P Case-Shiller home price index for 20 cities at 9 a.m. At 10 a.m., the October consumer confidence index is expected at 99.2, up from the prior 98.7. September’s job openings data is also due at the same time, with an expectation of 7.9 million, slightly down from 8 million.

Asia-Pacific markets mostly closed higher. Japan’s Nikkei 225 rose 0.77%, South Korea’s Kospi gained 0.21%, Australia’s ASX 200 climbed 0.34%. In Hong Kong, the Hang Seng rose 0.35% near session end, while China’s CSI 300 dropped 1%.

The Biden administration is finalizing rules, effective January 2, restricting U.S. investments in AI, semiconductors, and quantum technology in China to safeguard national security. This measure, based on a 2023 executive order, prevents U.S. expertise and capital from advancing China’s military.

ByteDance founder Zhang Yiming now tops China’s rich list with $49.3 billion, surpassing Zhong Shanshan, whose fortune dropped 24% to $47.9 billion. ByteDance boosted Zhang’s wealth with $110 billion in revenue.

In Japan, the government coalition’s loss of majority suggests increased spending, complicating potential interest rate hikes. The Liberal Democratic Party (LDP) will seek alliances, notably with parties advocating for tax cuts and subsidies, to maintain stability. Political uncertainty challenges the Bank of Japan’s interest rate strategy as yen weakening and U.S. policies pressure new economic measures.

Japan’s September unemployment rate dropped to 2.4%, down from 2.5% in August and below Reuters’ 2.5% forecast.

European markets opened higher on Tuesday, with investors assessing recent earnings reports and anticipating Germany’s GfK consumer confidence data.

On Monday, U.S. stocks edged higher after a strong start and a day of fluctuations, driven by declining oil prices. The Dow Jones gained 0.7%, the Nasdaq rose 0.3%, and the S&P 500 also increased 0.3%. With no significant economic data that day, investors awaited crucial upcoming data like the jobs and inflation reports, which could impact the Fed’s rate decisions, alongside quarterly reports from major tech names.

In quarterly earnings, results are expected from SoFi (NASDAQ:SOFI), PayPal (NASDAQ:PYPL), BP (NYSE:BP), McDonald’s (NYSE:MCD), Pfizer (NYSE:PFE), Royal Caribbean Group (NYSE:RCL), JetBlue (NASDAQ:JBLU), Crocs (NASDAQ:CROX), Tenet Health (NYSE:THC) and Enterprise Products Partners (NYSE:EPD) before the open.

After the close, results are anticipated from AMD (NASDAQ:AMD), Alphabet (NASDAQ:GOOGL), Snap Inc. (NYSE:SNAP), Chipotle (NYSE:CMG), Visa (NYSE:V), First Solar (NASDAQ:FSLR), Reddit (NYSE:RDDT), Qorvo (NASDAQ:QRVO), Chubb (NYSE:CB) and Enovix (NASDAQ:ENVX), among others.

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