Dow Jones futures rose Tuesday after reports that the U.S. and Iran had reached "some sort of an arrangement" toward a peace deal. S&P 500 and Nasdaq-100 futures also climbed, while Nvidia and Boeing led Dow gainers ahead of the open.
Dow futures rise on Iran arrangement report
Dow Jones Industrial Average futures rose 0.1% ahead of Tuesday's open, after Bloomberg reported that the U.S. and Iran were nearing a peace arrangement. S&P 500 futures moved up 0.2%. Nasdaq-100 futures climbed 0.4% in early trading.
Pakistan Defense Minister Khawaja Asif told Bloomberg the two sides were close to a deal. According to Bloomberg: "we are close to some sort of an arrangement." Late Monday, Trump told reporters in the Oval Office that the U.S. Navy had cleared the Strait of Hormuz of mines.
West Texas Intermediate crude futures traded near $82.35 a barrel. The 10-year Treasury yield ticked lower to 4.69%.
Nvidia and Boeing lead Dow gainers
Among Dow industrials, Nvidia and Boeing rallied 1% to 2% each ahead of the open. Nvidia shares looked to rebound after falling nearly 3% on Monday.
Salesforce and Amazon traded modestly lower in early action. Elsewhere, the Invesco QQQ ETF gained 0.3% before Tuesday's open. The SPDR S&P 500 ETF rose 0.2% before the opening bell.
Economic data ahead
Existing home sales data from the National Association of Realtors is due at 10 a.m. ET Tuesday, with sales anticipated to fall to 4.05 million in July from 4.09 million in June.
The consumer price index takes the spotlight later in the week. The 12-month inflation rate is expected to dip to 3.4% from 3.5%. Core CPI is seen rising 0.2% in July. The producer price index follows on Thursday.
Source: Investor's Business Daily
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