U.S. futures were gaining on Tuesday, looking to gain momentum off Monday's topsy-turvy day of trading. S&P 500 and Dow Jones Industrial Average futures were both up 0.3% while the Nasdaq was advancing 0.2% before the market opened.
The rise in futures was helped by the strong performance of industry-standard Brent crude whose contracts for July delivery were up $0.45 to $44.08 per barrel. West Texas Intermediate crude futures, on the other hand, continued to fall, down a nickel to $43.39 per barrel.
World markets were also green across the board, with the Nikkei leading the way in Asia, up 2.15%, while the Hang Seng and Shanghai Composite also closed trading higher. European markets were climbing Tuesday, with the Dax rising 0.5%, the FTSE 100 gaining 0.24% and the CAC 40 up 0.1% with about three hours left in trading.
European stocks were helped by a strong performance in the banking sector after Credit Suisse (CS) and Dutch Bank ING both reported their first-quarter results.
While Credit Suisse rose in Europe as investors were impressed with the bank's wealth management business, the stock was falling 3% premarket in the U.S. after reporting its second consecutive quarterly loss.
Embattled Lumber Liquidators (LL) continues to have a rough go, falling nearly 12% premarket, following the release of its latest earnings results. The company posted a first-quarter loss of $32.4 million, or $1.20 per share, much wider than the $0.27 per share loss analysts were expecting. The company said that it will contribute $26 million and one million shares to a settlement fund to resolve a class action lawsuit related to potentially hazardous products imported from China.
Nokia (NOK) was falling nearly 3% premarket following its first-quarter earnings release. The company swung to a quarterly loss after reporting a profit a year earlier. This is Nokia's first earnings release since it acquired Alcatel-Lucent.
Shares of Crocs (CROX) were flat premarket, but could rise in trading after reporting first-quarter results ahead of analyst expectations. The company beat earnings estimates by a penny while reporting a 6.4% rise in revenue year over year. Comparable store sales increased 2.9% in the period. However, Crocs also provided downside second-quarter revenue guidance between $340 million and $350 million vs. Wall Street's $358.37 million expectations.
Earnings season continues following the closing bell Tuesday with Trifecta Stocks holding Disney (DIS), Electronic Arts (EA), and Fossil (FOSL) all scheduled to report.
