Stock futures trade higher as violent protests continue across the US
The violence and damage to property may hinder the re-opening of the economy
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U.S. equity futures are pointing to a higher open ahead of the Tuesday trading session
The major futures indexes are indicating a gain of 0.7 percent.
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Investors are balancing cautious optimism about the reopening of businesses shut down because of the coronavirus pandemic against worries that widespread protests in the U.S. over police brutality could disrupt the economic recovery and widen the outbreak.
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The protests that have rocked American cities for days have so far not had much impact on financial markets. But the violence and damage to property may hinder the re-opening of the economy.
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In Asia on Tuesday, Japan’s Nikkei rose 1.2 percent, Hong Kong’s Hang Seng gained 1.1 percent and China's Shanghai Composite edged up 0.2 percent.
In Europe, London's FTSE added 1.1 percent, Germany's DAX returned from a holiday to surge 3.9 percent and France's CAC gained 2 percent.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 37777.34 | -683.58 | -1.78% |
| SP500 | S&P 500 | 5000.57 | -71.06 | -1.40% |
| I:COMP | NASDAQ COMPOSITE INDEX | 15431.505806 | -281.24 | -1.79% |
On Wall Street, the S&P 500 climbed 0.4 percent, after wavering between small gains and losses. The Dow Jones Industrial Average gained 0.4 percent and the Nasdaq composite climbed 0.7 percent.
The second half of the week will be dominated by job numbers.
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On Wednesday, payroll processor ADP will report on private sector hiring. The next day, the government releases its weekly tally of jobless claims. On Friday, the government will report the May employment report where 9 million jobs are expected to have been lost.
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Benchmark U.S. crude oil added 98 cents to $36.41 a barrel in electronic trading on the New York Mercantile Exchange. It fell 5 cents to $35.44 a barrel Monday. Brent crude oil, the international standard, gained $1.12 to $39.42 a barrel.
The Associated Press contributed to this article.