Dow futures rise after US ends all exemptions from Iran oil sanctions
U.S. stock index futures were slightly higher Tuesday morning, as market participants await a flurry of corporate earnings. At around 02:00 a.m. ET, Dow futures rose by 23 points, indicating a positive open of more than 27 points. Futures on the S&P and Nasdaq were both seen marginally higher.
Oil prices jumped more than 2% in the previous session, hitting their highest level this year amid intensifying concern about global supplies. It comes after the U.S. announced a further clampdown on Iran’s oil exports.
The world’s largest economy said Monday that from May 1, it would eliminate all waivers allowing eight economies to buy Iranian oil without facing U.S. sanctions.
International benchmark Brent crude traded at $74.40 Tuesday morning, up around 0.5%, while U.S. West Texas Intermediate (WTI) stood at $65.93, almost 0.6% higher.
On the data front, the latest Philadelphia Fed non-manufacturing survey and FHFA Housing Price Index for February will be published during early morning deals. New home sales for March and the Richmond Fed survey for April will both be released at around 10:00 a.m. ET.
In corporate news, Coca-Cola, Lockheed Martin, and Verizon were among the major companies expected to report their latest figures before the opening bell.
Texas Instruments, eBay and Stryker are set to release their latest quarterly results after market close.
Source: CNBC
