Dow Jones surges above 18,000
On Tuesday, American futures set up for a new rally because crude prices rebounded, thus putting the Dow industrials on track for its move above 18,000.
Marketing participants are waiting for a new reading on housing starts and earnings data from Dow components Goldman Sachs Group Incorporation, Johnson & Johnson as well as UnitedHealth Group Incorporation.
The S&P 500 futures edged up 0.4%, trading at 2,095.75. The Dow Jones Industrial Average futures ended +0.3% at 17,972. As for the Nasdaq-100 futures soared 0.7% at 4,576.25.
The Dow Jones gained up to 106.70 points on Monday, closing higher than 18,000 for the first time since July, because oil pared its losses. Oil crude futures tumbled on Monday right after unsuccessful negotiations in Doha. Nevertheless, oil rebounded following Kuwait’s labor strikes.
On Tuesday, May delivery West Texas Intermediate crude surged moderately, staying in the vicinity of $40 per a barrel.
The stability in crude prices has already strengthened attitudes among market participants. They’re already boasting a huge appetite for risky assets.