US Stock Futures Soar on Earnings and Iran Hopes
US stock futures surged on Tuesday after strong corporate earnings, lower oil prices, and optimism over possible progress in US-Iran negotiations.
Dow Jones Futures jumped more than 450 points, or 0.8%, ahead of the opening bell, with Caterpillar shares leading the charge, surging nearly 9% in premarket trading after reporting better-than-expected second-quarter earnings and raising its revenue growth outlook.
The decline in crude oil prices also lifted market sentiment as investors assessed the possibility of reduced geopolitical risks in the Middle East. West Texas Intermediate (WTI) crude futures dropped about 4% to nearly $77 per barrel, while Brent crude futures declined around 3% to approximately $80 per barrel.
Others benefiting from the rally include Palantir Technologies, which jumped more than 15%, Micron Technology, up around 4%, and Marvell Technology, advancing nearly 8%.