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Stocks - U.S. Futures Point to Positive Start to Q4 

Published 10/01/2019, 06:54 AM
Updated 10/01/2019, 08:49 AM
© Reuters.
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Investing.com - U.S. futures pointed to a higher opening bell on Tuesday, setting a positive tone for the fourth-quarter as political and economic uncertainty remained in the background.

The impeachment process rumbles on, but the market remains generally unmoved by reports indicating that Secretary of State Mike Pompeo was also on the call when President Donald Trump asked Ukraine's president to look into corruption allegations against former Vice President Joe Biden's son.

Nasdaq 100 futures gained 18 points or 0.2% by 6:53 AM ET (10:53 GMT), while Dow futures rose 48 points or 0.2% and S&P 500 futures were up 5 points or 0.2%.

Tesla (NASDAQ:TSLA) gained 0.4% in premarket trade, as investors waited for the electric car company to update its deliveries report in the next few days. Apple (NASDAQ:AAPL) was up 0.6%, while Amazon.com (NASDAQ:AMZN) rose 0.7%. Banking stocks were also higher, with Morgan Stanley (NYSE:MS) and Goldman Sachs (NYSE:GS) rising 0.8%.

On the data front, the manufacturing Purchasing Managers’ index comes out at 9:45 AM ET, while construction spending figures will be out at 10 AM ET, along with the Dallas Federal Reserve service-sector numbers.

In commodities, crude oil futures rallied 1% to $54.62 a barrel. Gold futures were up 0.2% to $1,475.75 a troy ounce, while the U.S. dollar index, which measures the greenback against a basket of six major currencies, rose 0.1% to 99.097.

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