Investing.com – U.S. futures rose on Tuesday despite lingering worry over a trade war between the U.S. and other major economies.
The S&P 500 futures gained 10 points or 0.39% to 2,738.0 as of 6:46 AM ET (10:46 GMT) while Dow futures increased 113 points or 0.47% to 24,399.0. Meanwhile tech heavy Nasdaq 100 futures gained 34 points or 0.48% to 7,150.75.
In the latest round of trade disputes, the U.S. is set to block China Mobile from offering services in the U.S. market, citing possible national security risks. The move comes just days before the U.S. is set to impose tariffs on $34 billion worth of Chinese goods on Friday.
Trading is expected to be thin ahead of the U.S. independence day holiday, with markets closing early at 1:00 P.M. ET (17:00 GMT).
Nokia (HE:NOKIA) was among the top gainers in pre-market trading, rising 1.59% while Netflix (NASDAQ:NFLX) gained 0.58% and Chinese e-commerce firm Jd.Com Inc Adr (NASDAQ:JD) increased 1.26%. Twitter inched up 0.71% after Wells Fargo (NYSE:WFC) raised it prices target on the social media site to $42 from $32.
Elsewhere Facebook (NASDAQ:FB) fell 1.45% after news that the FBI and other federal agencies have joined a Department of Justice probe into the use of Facebook data by Cambridge Analytica. Meanwhile Tesla (NASDAQ:TSLA) decreased 1.30% amid reports that its top engineer Doug Field is leaving.
In economics news, factory orders for May come out at 10:00 AM ET (14:00 GMT).
In Europe stocks were up. Germany’s DAX rose 154 points or 1.26% while in France the CAC 40 increased 51 points or 0.98% and in London, the FTSE 100 was up 39 points or 0.52%. Meanwhile the pan-European Euro Stoxx 50 gained 43 points or 1.28% while Spain’s IBEX 35 surged 135 points or 1.42%.
In commodities, gold futures rose 0.49% to $1,247.80 a troy ounce while crude oil futures increased 1.20% to $74.83 a barrel. The U.S. dollar index which measures the greenback against a basket of six major currencies, was down 0.20% to 94.41.