U.S. stock index futures were rising premarket Tuesday, reversing the decline major indices experienced in the previous trading session.
The three major indices had a strong start to trading on Monday, but ended the day down across the board. The S&P 500 and Nasdaq futures were up 0.3% today, while the Dow Jones Industrial average climbed 0.2%.
Asian markets had a strong performance Tuesday, with the Hang Seng rising 0.3% and the Nikkei reversing losses from the previous session to close trading up 1.1%. The Shanghai Composite was the lone index in the red, falling 0.3%. In Europe, the Dax was the only major index climbing while the FTSE 100 and CAC 40 were both even, with about three hours left in trading.
Crude prices were sustaining their climb Tuesday, as the commodity continues to surpass the $41 barrier that had acted as resistance previously. Brent crude contracts for June delivery were up $0.44 to $43.27 per barrel while West Texas crude prices were up $0.28 to $40.64 per barrel.
Shares of Alcoa (AA) were falling premarket, as the aluminum maker was the first security out the gate, kicking off the first quarter earnings season. Alcoa reported earnings of $0.07 per share, topping analyst estimates by a nickel. However the company also reported that it expects demand to fall, and lowered its 2016 global sales outlook in the aerospace industry.
Fastenal (FAST) shares were falling nearly 3% premarket after the business-to-business construction and industrial supply manufacturer reported bottom line results in line with analyst estimates. Revenue of $986.7 million for the period topped analysts' $984.1 million expectations.
Abbvie (ABBV) shares were up 2% premarket, after the Food and Drug Administration approved a drug from the company that treats a rare form of leukemia.
Finally, big investment banks will be under scrutiny this week as three of them are set to report in the coming days. JPMorgan Chase (JPM) is scheduled to release its results on Wednesday. Bank of America (BAC) and Wells Fargo (WFC) -- two stocks that are key holdings of the Action Alerts PLUS charitable trust -- are expected to report on Thursday.