Investing.com - U.S. stock futures pointed to a sharply higher open on Tuesday, as optimism marked the first 2012 trading session for U.S. markets while investors eyed a report on U.S. manufacturing activity to be released later in the day.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a rise of 1.74%, S&P 500 futures signaled a 1.72% jump, while the Nasdaq 100 futures indicated a 1.86% gain.
Market sentiment found support after data on Sunday showed that Chinese manufacturing activity expanded in December after contracting the previous month.
But concerns over the euro zone’s financial woes remained in focus as investors eyed a series of key events this month, including German and French bond auctions later in the week.
Energy stocks were expected to be active as Total signed a USD2.3 billion joint venture deal with Chesapeake Energy Corp and EnerVest that will see the French company expand its position in the Utica Shale area of Eastern Ohio.
Shares in Total and Chesapeake Energy Corp were up 1.74% and 3.59% respectively in pre-market trade.
British Petroleum was also slated to be in the spotlight after calling on its contractor Halliburton to pay all costs and expenses the oil major incurred to clean up the 2010 Gulf of Mexico oil spill. Shares in British Petroleum surged 1.92%.
Also in corporate news, Boeing shares were expected to rise after the company won a USD3.5 billion missile contract from the U.S. Defense Department, beating out rival Lockheed Martin.
Elsewhere, retailers were in focus as Jefferies & Co upgraded American Eagle Outfitters and Ann Inc to "buy" and said that due to a slow but ongoing consumer recovery, combined with normalized cotton costs U.S., specialty retail stocks could see better margins this year.
Other stocks in focus included Starbucks Corp, which is raising prices in the U.S. Northeast and Sunbelt regions by an average of about 1%.
Across the Atlantic, European stock markets were mixed. The EURO STOXX 50 jumped eased 0.03%, France’s CAC 40 retreated 0.44%, Germany's DAX jumped 1.07%, while Britain's FTSE 100 surged 1.27%.
During the Asian trading session, Hong Kong's Hang Seng Index rallied 2.4%, while Japan’s Nikkei 225 Index remained closed for the extended New Year's holiday.
Later in the day, the U.S. Institute of Supply Management was to publish a report on manufacturing activity and the Federal Reserve was to publish the minutes of its December policy meeting.
Ahead of the open, the Dow Jones Industrial Average futures pointed to a rise of 1.74%, S&P 500 futures signaled a 1.72% jump, while the Nasdaq 100 futures indicated a 1.86% gain.
Market sentiment found support after data on Sunday showed that Chinese manufacturing activity expanded in December after contracting the previous month.
But concerns over the euro zone’s financial woes remained in focus as investors eyed a series of key events this month, including German and French bond auctions later in the week.
Energy stocks were expected to be active as Total signed a USD2.3 billion joint venture deal with Chesapeake Energy Corp and EnerVest that will see the French company expand its position in the Utica Shale area of Eastern Ohio.
Shares in Total and Chesapeake Energy Corp were up 1.74% and 3.59% respectively in pre-market trade.
British Petroleum was also slated to be in the spotlight after calling on its contractor Halliburton to pay all costs and expenses the oil major incurred to clean up the 2010 Gulf of Mexico oil spill. Shares in British Petroleum surged 1.92%.
Also in corporate news, Boeing shares were expected to rise after the company won a USD3.5 billion missile contract from the U.S. Defense Department, beating out rival Lockheed Martin.
Elsewhere, retailers were in focus as Jefferies & Co upgraded American Eagle Outfitters and Ann Inc to "buy" and said that due to a slow but ongoing consumer recovery, combined with normalized cotton costs U.S., specialty retail stocks could see better margins this year.
Other stocks in focus included Starbucks Corp, which is raising prices in the U.S. Northeast and Sunbelt regions by an average of about 1%.
Across the Atlantic, European stock markets were mixed. The EURO STOXX 50 jumped eased 0.03%, France’s CAC 40 retreated 0.44%, Germany's DAX jumped 1.07%, while Britain's FTSE 100 surged 1.27%.
During the Asian trading session, Hong Kong's Hang Seng Index rallied 2.4%, while Japan’s Nikkei 225 Index remained closed for the extended New Year's holiday.
Later in the day, the U.S. Institute of Supply Management was to publish a report on manufacturing activity and the Federal Reserve was to publish the minutes of its December policy meeting.