Investing.com – U.S. futures were higher on Tuesday as investors shrugged off economic uncertainty in Turkey.
The S&P 500 futures rose 11 points, or 0.39%, to 2,836.50 as of 6:45 AM ET (10:45 GMT) while Dow futures were up 97 points, or 0.38%, to 25,312.0. Meanwhile tech heavy Nasdaq 100 futures increased 39 points, or 0.53%,to 7,456.25.
The Turkish lira rallied on Tuesday, breaking a 5-day losing streak after the country's central bank pledged to provide liquidity in response to a meltdown which has unsettled global markets.
The struggling currency sank to an all-time low of 7.1289 on Monday amid growing concern over a deepening diplomatic rift with the United States over Ankara's detention of Andrew Brunson, an American pastor detained in 2016.
Retail earnings will be in focus this week, as earnings season draws to a close. Macy's (NYSE:M) reports on Wednesday; and Walmart (NYSE:WMT), the world’s largest retailer, is due to report results on Thursday.
Facebook (NASDAQ:FB) was among the top gainers in pre-market trading, rising 0.50% while Intel (NASDAQ:INTC) surged 0.93% and Microsoft (NASDAQ:MSFT) increased 0.71%. Home Depot (NYSE:HD) jumped 2.04% after its earnings came in higher than expected.
Elsewhere Chinese e-commerce company Jd.Com Inc Adr (NASDAQ:JD) was down 0.20% while Rio Tinto ADR (NYSE:RIO) (LON:RIO) fell 1.19%.
In Europe stocks were higher. Germany’s DAX rose 41 points or 0.33% while in France the CAC 40 increased 16 points or 0.30% and in London, the FTSE 100 was up 3 points or 0.04%. Meanwhile the pan-European Euro Stoxx 50 gained 10 points or 0.32% while Spain’s IBEX 35 inched up 17 points or 0.18%.
In commodities, gold futures rose 0.27% to $1,202.10 a troy ounce while crude oil futures surged 0.97% to $67.85 a barrel. The U.S. dollar index which measures the greenback against a basket of six major currencies, fell 0.05% to 96.11.