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  • U.S. Stock Futures Rise as Tech and Energy Stocks Lead Rebound

U.S. Stock Futures Rise as Tech and Energy Stocks Lead Rebound

U.S. stock futures rose as some technology and growth stocks rebounded from a selloff in the previous session. Investors awaited key economic data that could determine the Federal Reserve’s monetary tightening path. Energy stocks drove the benchmark S&P 500 to close higher with energy sector stocks gaining nearly 5%, clocking its strongest one-day gain of nearly six months on prospects of oil prices inching toward $100 a barrel. Oil prices extended gains on Tuesday with investor attention shifting to demand trends and the impact of higher prices on the global economy. At 5:54 a.m. ET, Dow e-minis were up 46 points, or 0.14%, S&P 500 e-minis were up 13.75 points, or 0.33%, and Nasdaq 100 e-minis were up 77.5 points, or 0.58%. Traders’ bets of a 25-basis point rate hike in May stood at 59.1%, with odds of a pause at 40.9%.

US stock futures rose in early morning trading on Tuesday, with tech and growth stocks bouncing back after recent losses. Investors are awaiting economic data that could influence the Federal Reserve’s tightening path. Inflation concerns have sparked trader bets of a 25-basis point rate hike in May, with odds of a pause at 40.9%. Oil prices are also on the rise, with attention on demand trends and the impact of higher prices on the global economy.

At 5:54 a.m. ET, the Dow e-minis rose 46 points or 0.14%, the S&P 500 e-minis gained 13.75 points or 0.33%, and the Nasdaq 100 e-minis advanced 77.5 points or 0.58%. Tesla Inc rose 1.6%, while Meta Platforms Inc and Microsoft Corp climbed about 0.6% each. Energy firms Chevron Corp, Exxon Mobil Corp, and Occidental Petroleum Corp were set to extend gains.

Investors are waiting for U.S. job openings data and factory orders results for February, as well as remarks from Fed officials Lisa Cook, Susan Collins, and Loretta Mester for clues on the interest rate trajectory. Virgin Orbit Holdings Inc fell 25% after filing for Chapter 11 bankruptcy, while Etsy Inc gained 3.8% after being upgraded by Piper Sandler.